Revisor Wealth Management LLC Acquires 1,814 Shares of Consolidated Edison Inc (NYSE:ED)

Revisor Wealth Management LLC raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 79.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,106 shares of the utilities provider’s stock after acquiring an additional 1,814 shares during the quarter. Revisor Wealth Management LLC’s holdings in Consolidated Edison were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ED. Vanguard Group Inc. lifted its position in Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock valued at $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Consolidated Edison by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock worth $799,684,000 after buying an additional 130,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider’s stock valued at $430,129,000 after buying an additional 271,088 shares in the last quarter. Norges Bank bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $399,824,000. Finally, Northern Trust Corp grew its stake in shares of Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider’s stock valued at $375,458,000 after acquiring an additional 390,708 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Mizuho upgraded shares of Consolidated Edison from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $105.00 to $107.00 in a research note on Monday. UBS Group increased their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Barclays raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Citigroup upped their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Finally, Guggenheim increased their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $105.27.

Consolidated Edison Stock Performance

ED opened at $99.89 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.22 and a beta of 0.26. The company has a fifty day moving average of $104.14 and a 200 day moving average of $100.84. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the business earned $2.15 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

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.