9,714 Shares of Consolidated Edison Inc $ED Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED) during the third quarter, HoldingsChannel reports. The institutional investor purchased 9,714 shares of the utilities provider’s stock, valued at approximately $1,100,000.

A number of other institutional investors and hedge funds have also modified their holdings of ED. PFS Partners LLC lifted its holdings in shares of Consolidated Edison by 12.2% during the third quarter. PFS Partners LLC now owns 836 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 91 shares in the last quarter. Cornerstone Financial Management LLC lifted its stake in Consolidated Edison by 43.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 96 shares during the period. Charles Schwab Trust Co lifted its stake in Consolidated Edison by 2.3% during the 3rd quarter. Charles Schwab Trust Co now owns 4,400 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 100 shares during the period. Compass Financial Management LLC lifted its position in Consolidated Edison by 18.9% during the third quarter. Compass Financial Management LLC now owns 636 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 101 shares during the period. Finally, SYM FINANCIAL Corp lifted its position in Consolidated Edison by 5.0% during the third quarter. SYM FINANCIAL Corp now owns 2,158 shares of the utilities provider’s stock valued at $221,000 after purchasing an additional 102 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.1%

Shares of ED stock opened at $118.41 on Tuesday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $122.75. The firm has a fifty day moving average price of $109.14 and a 200-day moving average price of $109.42. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The company has a market cap of $43.79 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 4.16 and a beta of 0.23.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 5th. The utilities provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the firm earned $1.90 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s payout ratio is currently 56.80%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. Royal Bank Of Canada dropped their price target on Consolidated Edison from $110.00 to $109.00 in a research note on Monday, October 26th. HSBC initiated coverage on Consolidated Edison in a report on Thursday, October 22nd. They issued a “hold” rating and a $104.00 price objective for the company. Bank of America reduced their price objective on Consolidated Edison from $105.00 to $96.00 in a research report on Friday, October 2nd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $105.00 target price (down from $121.00) on shares of Consolidated Edison in a report on Tuesday, October 6th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $109.74.

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers.

Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.

The company’s roots trace back to New York Gas Light Company, founded in 1823.