Guardian Wealth Advisors LLC Acquires 165 Shares of Consolidated Edison, Inc. (NYSE:ED)

Guardian Wealth Advisors LLC lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 6,342 shares of the utilities provider’s stock after purchasing an additional 165 shares during the quarter. Guardian Wealth Advisors LLC’s holdings in Consolidated Edison were worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ED. Retirement Planning Co of New England Inc. raised its stake in shares of Consolidated Edison by 4.2% in the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after buying an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Consolidated Edison by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 100 shares during the last quarter. Brookstone Capital Management boosted its position in Consolidated Edison by 0.6% during the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 141 shares in the last quarter. Finally, Center For Asset Management LLC raised its position in shares of Consolidated Edison by 3.5% in the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on ED shares. Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Bank of America lifted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their target price on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Finally, Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.35.

Consolidated Edison Stock Up 0.0 %

ED opened at $96.45 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $102.51 and its 200 day simple moving average is $98.05. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The stock has a market cap of $33.41 billion, a PE ratio of 18.16, a P/E/G ratio of 3.24 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.