4,639 Shares in Consolidated Edison Inc $ED Acquired by Independent Financial Group LLC

Independent Financial Group LLC bought a new position in Consolidated Edison Inc (NYSE:ED) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 4,639 shares of the utilities provider’s stock, valued at approximately $525,000.

Several other large investors have also recently bought and sold shares of the company. Prosperity Consulting Group LLC raised its position in shares of Consolidated Edison by 17.5% in the first quarter. Prosperity Consulting Group LLC now owns 7,181 shares of the utilities provider’s stock worth $813,000 after buying an additional 1,072 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Consolidated Edison during the first quarter worth about $34,908,000. W.G. Shaheen & Associates DBA Whitney & Co grew its position in Consolidated Edison by 13.8% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 3,296 shares of the utilities provider’s stock worth $373,000 after buying an additional 400 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Consolidated Edison by 5.7% in the 1st quarter. Wealthfront Advisers LLC now owns 150,994 shares of the utilities provider’s stock worth $17,090,000 after acquiring an additional 8,208 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in Consolidated Edison by 0.7% in the 1st quarter. D.A. Davidson & CO. now owns 20,887 shares of the utilities provider’s stock worth $2,364,000 after acquiring an additional 145 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ED. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. KeyCorp dropped their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and a consensus target price of $107.87.

Consolidated Edison Stock Up 0.6%

Shares of NYSE ED opened at $112.81 on Friday. The stock has a market capitalization of $41.58 billion, a P/E ratio of 18.99, a PEG ratio of 2.91 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The firm’s 50 day simple moving average is $108.89 and its two-hundred day simple moving average is $108.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.