Consolidated Edison, Inc. (NYSE:ED) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in Consolidated Edison, Inc. (NYSE:ED) by 42.3% during the third quarter, Holdings Channel reports. The fund owned 3,731 shares of the utilities provider’s stock after purchasing an additional 1,109 shares during the quarter. King Luther Capital Management Corp’s holdings in Consolidated Edison were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in shares of Consolidated Edison during the third quarter valued at about $71,000. Commerce Bank increased its stake in Consolidated Edison by 1.6% during the 3rd quarter. Commerce Bank now owns 38,669 shares of the utilities provider’s stock valued at $4,027,000 after buying an additional 615 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $70,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $2,462,000. Finally, Guardian Wealth Advisors LLC boosted its holdings in shares of Consolidated Edison by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 6,342 shares of the utilities provider’s stock valued at $660,000 after acquiring an additional 165 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.3 %

Shares of Consolidated Edison stock opened at $98.36 on Friday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a market cap of $34.07 billion, a P/E ratio of 18.52, a P/E/G ratio of 3.32 and a beta of 0.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average price of $102.01 and a 200 day moving average price of $98.08.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal 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 dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.38%. Consolidated Edison’s dividend payout ratio is 62.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday. Finally, Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.19.

Consolidated Edison Profile

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.