Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 3.3% during the 3rd quarter, Holdings Channel reports. The firm owned 55,511 shares of the utilities provider’s stock after buying an additional 1,794 shares during the quarter. Consolidated Edison makes up about 1.5% of Ellsworth Advisors LLC’s holdings, making the stock its 19th largest holding. Ellsworth Advisors LLC’s holdings in Consolidated Edison were worth $5,780,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Beacon Capital Management LLC grew its holdings in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth approximately $33,000. TruNorth Capital Management LLC acquired a new stake in shares of Consolidated Edison in the second quarter worth approximately $33,000. Versant Capital Management Inc boosted its stake in shares of Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 327 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth approximately $48,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE:ED opened at $105.66 on Friday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $106.45. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $36.54 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.46 and a beta of 0.36. The stock’s fifty day moving average is $102.69 and its two-hundred day moving average is $96.48.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. Equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.14%. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ED. Wells Fargo & Company lifted their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Guggenheim lifted their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Bank of America lifted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $96.46.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.