Cetera Investment Advisers Has $16.89 Million Stock Position in Consolidated Edison Inc $ED

Cetera Investment Advisers boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,267 shares of the utilities provider’s stock after buying an additional 9,034 shares during the period. Cetera Investment Advisers’ holdings in Consolidated Edison were worth $16,894,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Revolve Wealth Partners LLC boosted its position in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after acquiring an additional 441 shares during the period. Empowered Funds LLC increased its position in Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 2,659 shares during the period. Woodline Partners LP raised its stake in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Consolidated Edison during the 2nd quarter valued at $3,256,000. Finally, Baird Financial Group Inc. boosted its holdings in Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after purchasing an additional 296 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.6%

NYSE ED opened at $112.15 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average is $109.22 and its two-hundred day moving average is $109.26. The company has a market capitalization of $41.33 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.89 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s payout ratio is currently 59.76%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ED. Evercore set a $116.00 price target on shares of Consolidated Edison in a research report on Monday, May 11th. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research report on Monday. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. KeyCorp decreased their target price on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. Finally, Barclays lowered their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $108.47.

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.