Creative Planning grew its position in Consolidated Edison, Inc. (NYSE:ED) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,590 shares of the utilities provider’s stock after purchasing an additional 2,388 shares during the quarter. Creative Planning’s holdings in Consolidated Edison were worth $7,016,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fiera Capital Corp raised its stake in Consolidated Edison by 0.3% during the 2nd quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 13 shares in the last quarter. First Allied Advisory Services Inc. raised its stake in Consolidated Edison by 1.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 9,812 shares of the utilities provider’s stock worth $792,000 after acquiring an additional 106 shares in the last quarter. Bank of Hawaii raised its stake in Consolidated Edison by 0.7% during the 2nd quarter. Bank of Hawaii now owns 16,649 shares of the utilities provider’s stock worth $1,346,000 after acquiring an additional 116 shares in the last quarter. Veritable L.P. raised its stake in Consolidated Edison by 1.9% during the 2nd quarter. Veritable L.P. now owns 8,764 shares of the utilities provider’s stock worth $708,000 after acquiring an additional 161 shares in the last quarter. Finally, National Asset Management Inc. raised its stake in Consolidated Edison by 2.2% during the 2nd quarter. National Asset Management Inc. now owns 9,455 shares of the utilities provider’s stock worth $765,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 55.50% of the company’s stock.
Consolidated Edison, Inc. (NYSE:ED) opened at $78.28 on Friday. Consolidated Edison, Inc. has a 52-week low of $72.13 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79. The stock has a market cap of $24,579.15, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 9.28 and a beta of 0.10.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the business posted $1.51 earnings per share. equities analysts anticipate that Consolidated Edison, Inc. will post 4.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.715 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 3.65%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.00%.
ED has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Monday, October 2nd. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Bank of America initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 price target on the stock. Guggenheim reiterated a “hold” rating and set a $88.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a research note on Friday, October 20th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $80.29.
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About Consolidated Edison
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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