Apriem Advisors grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 17.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,980 shares of the utilities provider’s stock after acquiring an additional 11,994 shares during the quarter. Consolidated Edison comprises 1.6% of Apriem Advisors’ portfolio, making the stock its 16th biggest position. Apriem Advisors’ holdings in Consolidated Edison were worth $6,614,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Fiera Capital Corp boosted its holdings in Consolidated Edison by 0.3% in the second quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock valued at $395,000 after purchasing an additional 13 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Consolidated Edison by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock worth $257,000 after buying an additional 18 shares during the last quarter. United Asset Strategies Inc. lifted its holdings in Consolidated Edison by 0.3% during the 2nd quarter. United Asset Strategies Inc. now owns 6,749 shares of the utilities provider’s stock worth $545,000 after buying an additional 21 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Consolidated Edison by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,688 shares of the utilities provider’s stock worth $1,834,000 after buying an additional 59 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in Consolidated Edison by 1.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 6,513 shares of the utilities provider’s stock worth $526,000 after buying an additional 85 shares during the last quarter. Institutional investors own 55.50% of the company’s stock.
Shares of Consolidated Edison, Inc. (NYSE:ED) traded down $0.14 during trading on Friday, hitting $84.95. The stock had a trading volume of 1,224,388 shares, compared to its average volume of 1,482,252. The firm has a market capitalization of $26,383.75, a PE ratio of 21.24, a PEG ratio of 10.40 and a beta of 0.10. Consolidated Edison, Inc. has a 1-year low of $72.13 and a 1-year high of $89.70. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.69 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.25%. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.00%.
Several analysts recently issued reports on ED shares. Zacks Investment Research downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. KeyCorp reissued a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Bank of America started coverage on Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 target price on the stock. Morgan Stanley raised their target price on Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Finally, ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $80.32.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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