Consolidated Edison Inc (NYSE:ED) Announces Quarterly Dividend of $0.89

Consolidated Edison Inc (NYSE:ED) announced a quarterly dividend on Thursday, July 16th. Shareholders of record on Wednesday, August 19th will be paid a dividend of 0.8875 per share by the utilities provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 19th.

Consolidated Edison has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 52 consecutive years. Consolidated Edison has a payout ratio of 59.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Consolidated Edison to earn $6.41 per share next year, which means the company should continue to be able to cover its $3.55 annual dividend with an expected future payout ratio of 55.4%.

Consolidated Edison Stock Performance

Shares of ED opened at $112.21 on Friday. The firm has a 50-day moving average of $108.37 and a 200-day moving average of $108.56. Consolidated Edison has a one year low of $94.96 and a one year high of $116.23. The company has a market cap of $41.35 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.80 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Basepoint Wealth LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in Consolidated Edison during the third quarter worth approximately $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison during the 4th quarter worth $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison during the 4th quarter worth $27,000. Finally, Sachetta LLC raised its holdings in Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 102 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

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.