530 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by FSA Wealth Management LLC

FSA Wealth Management LLC acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 530 shares of the utilities provider’s stock, valued at approximately $55,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in shares of Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after acquiring an additional 24,211 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Consolidated Edison by 74.5% during the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock worth $1,557,000 after purchasing an additional 7,324 shares in the last quarter. National Pension Service lifted its holdings in shares of Consolidated Edison by 7.0% during the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock valued at $48,792,000 after buying an additional 30,838 shares during the last quarter. Czech National Bank grew its stake in shares of Consolidated Edison by 8.5% in the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Consolidated Edison by 12.1% in the second quarter. Parallel Advisors LLC now owns 8,032 shares of the utilities provider’s stock worth $718,000 after buying an additional 869 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.0 %

Shares of ED stock opened at $100.59 on Monday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $34.85 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 3.38 and a beta of 0.36. The stock has a 50 day moving average of $101.75 and a 200-day moving average of $98.21.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is presently 62.52%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ED shares. Bank of America boosted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Barclays cut their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Morgan Stanley cut their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.13.

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.