Guardian Wealth Advisors LLC increased its stake in Consolidated Edison, Inc. (NYSE: ED – Get Rating) by 916.7% in the fourth quarter, according to its latest disclosure to the U.S. Securities and Exchange Commission. The fund owned 5,734 shares of the utility provider after purchasing an additional 5,170 of his shares during the quarter. Guardian Wealth Advisors LLC’s stake in Consolidated Edison was valued at $546,000 at the end of the most recent quarter.
Several other institutional investors have also increased or decreased their stakes in the business. Securian Asset Management Inc. increased his position in consolidated Edison by 0.7% in the fourth quarter. Securian Asset Management Inc. owns 29,041 shares of utility company stock valued at $2,768,000 after acquiring an additional 214 shares during this period. Spire Wealth Management raised his position in Consolidated Edison by 1.1% in the fourth quarter. Spire Wealth Management owns 10,929 shares of the utility company valued at $1,042,000 after acquiring an additional 118 shares during this period. SG Americas Securities LLC increased its position in Consolidated Edison by 121.7% in the fourth quarter. SG Americas Securities LLC now owns 31,623 shares of utility company stock valued at $3,014,000 after acquiring an additional 17,356 shares during this period. Raymond James Trust NA increased his position in Consolidated Edison by 5.7% in the fourth quarter. Raymond James Trust NA now owns 9,244 shares of the utility company valued at $881,000 after acquiring an additional 499 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in consolidated Edison stock by 14.2% in the fourth quarter. Nisa Investment Advisors LLC owns 170,559 shares of utility company stock valued at $16,256,000 after purchasing an additional 21,191 shares during this period. Currently 64.95% of the shares are owned by institutional investors.
Consolidated Edison transactions up 0.3%
The NYSE ED rose $0.30 to reach $98.96 during Friday’s trading hours. His 294,078 shares in the company were exchanged, but the average trading volume was 1,791,372 of his shares. Consolidated Edison, Inc. has a 52-week low of $78.10 and a 52-week high of $102.21. The company has a quick ratio of 1.10, a current ratio of 1.14 and a debt to equity ratio of 0.96. The stock has a 50-day moving average price of $94.15 and a 200-day moving average price of $92.97. The stock has a market cap of $34.28 billion, a PE ratio of 21.13, a price/earnings ratio of 10.06, and a beta of 0.37.
Consolidated Edison (NYSE: ED – Get Rating) announced final results on Thursday, Feb. 16. The utility provider reported earnings of $0.81 per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The company’s earnings for the quarter he had $4.03 billion, while the consensus estimate was $3.18 billion. Consolidated Edison’s return on equity was 7.79% and net profit margin was 10.59%. The company’s revenue for the quarter increased by 18.0% compared to the same quarter last year. In the same quarter last year, the company posted his EPS of $1.00. Analysts forecast Consolidated Edison, Inc.’s earnings per share for the current fiscal year to be 4.85.
Announcement of Consolidated Edison Dividend
The company also recently announced a quarterly dividend payable on Thursday, June 15th. Investors of record on Wednesday, May 17 will be paid a dividend of $0.81 per share. This represents his $3.24 dividend and his 3.27% dividend yield on an annual basis. Consolidated Edison payout ratio is currently 69.38%.
Wall Street Analyst Predicts Growth
ED has been the topic of several recent analyst reports. Morgan Stanley raised his price target for Consolidated Edison to $77.00 from his $70.00, giving the company an “underweight” rating in a research report on Thursday. Royal Bank of Canada raised its price target on Consolidated Edison shares from $94.00 to $95.00 and gave the company a ‘Sector Performing’ rating in its research notes on Monday, February 27. Guggenheim lowered its price target on Consolidated Edison shares from $97.00 to $86.00 in its research notes on Friday, February 17. Mizuho lowered its price target for Consolidated Edison from $98.00 to $92.00 in its research report on Friday, February 17, giving the company a “neutral” rating. Finally, JPMorgan Chase & Co. lowered its consolidated Edison price target from $88.00 to $87.00 and gave the stock an “underweight” rating in its report on Thursday, February 2nd. Four research analysts gave the company’s stock a sell rating, seven assigned a hold rating, and one gave a buy rating. Based on MarketBeat data, the stock has a consensus rating of “Hold” and an average target price of $91.08.
Consolidated Edison company profile
Consolidated Edison, Inc is a holding company and regulated electricity, gas and steam distribution business. The company operates through the Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities (O&R), Con Edison Clean Energy Business and Con Edison Transmission segments.
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