Signaturefd LLC Acquires 1,971 Shares of Consolidated Edison, Inc. (NYSE:ED)

Signaturefd LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 19.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,292 shares of the utilities provider’s stock after buying an additional 1,971 shares during the quarter. Signaturefd LLC’s holdings in Consolidated Edison were worth $1,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Beacon Capital Management LLC grew its position 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 in the last quarter. Raleigh Capital Management Inc. bought a new position in Consolidated Edison during the fourth quarter worth about $29,000. Tidemark LLC bought a new stake in Consolidated Edison in the 4th quarter valued at $29,000. Pathway Financial Advisers LLC bought a new position in Consolidated Edison during the first quarter worth $33,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Consolidated Edison in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ED. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays upped their price objective on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. UBS Group lifted their target price on Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company raised their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $92.65.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded up $0.75 on Friday, reaching $101.56. 2,341,357 shares of the stock were exchanged, compared to its average volume of 1,867,070. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99. The firm has a market cap of $35.12 billion, a PE ratio of 19.49, a P/E/G ratio of 2.56 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. The firm’s 50 day moving average is $95.63 and its 200-day moving average is $92.83.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.03%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm posted $0.61 earnings per share. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is 63.72%.

Consolidated Edison Company 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.