Kiley Juergens Wealth Management LLC Invests $966,000 in Consolidated Edison Inc $ED

Kiley Juergens Wealth Management LLC bought a new stake in Consolidated Edison Inc (NYSE:ED) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,536 shares of the utilities provider’s stock, valued at approximately $966,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Revolve Wealth Partners LLC lifted its position in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares in the last quarter. Empowered Funds LLC increased its stake in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after buying an additional 2,659 shares during the period. Woodline Partners LP lifted its holdings in Consolidated Edison by 40.7% in the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after buying an additional 8,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Consolidated Edison in the 2nd quarter worth $3,256,000. Finally, Baird Financial Group Inc. boosted its position 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 buying an additional 296 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Thursday, May 14th. Barclays dropped their price objective on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $2.39 during trading hours on Tuesday, reaching $114.33. The company’s stock had a trading volume of 283,572 shares, compared to its average volume of 2,251,397. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company’s 50 day simple moving average is $107.88 and its 200 day simple moving average is $107.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The stock has a market cap of $42.13 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. Consolidated Edison’s dividend payout ratio is 59.76%.

About Consolidated Edison

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.