2,000 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Trail Ridge Investment Advisors LLC

Trail Ridge Investment Advisors LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,000 shares of the utilities provider’s stock, valued at approximately $215,000.

Other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of Consolidated Edison by 6.6% in the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after acquiring an additional 123,654 shares in the last quarter. Hsbc Holdings PLC grew its stake in Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after purchasing an additional 11,785 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Consolidated Edison by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after purchasing an additional 125,859 shares during the last quarter. Clean Energy Transition LLP raised its stake in shares of Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after purchasing an additional 623,787 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Consolidated Edison by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock worth $65,435,000 after buying an additional 91,559 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED stock opened at $104.81 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market cap of $36.25 billion, a P/E ratio of 20.12, a P/E/G ratio of 3.57 and a beta of 0.36. The firm’s fifty day moving average is $103.43 and its 200 day moving average is $97.37. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the previous year, the business earned $0.61 earnings per share. Research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Wells Fargo & Company boosted their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Barclays increased their price target on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Finally, UBS Group boosted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.73.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.