Sanctuary Advisors LLC Has $5.44 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Sanctuary Advisors LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 23.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,318 shares of the utilities provider’s stock after purchasing an additional 10,568 shares during the period. Sanctuary Advisors LLC’s holdings in Consolidated Edison were worth $5,441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its position in Consolidated Edison by 3.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,276 shares of the utilities provider’s stock worth $1,455,000 after buying an additional 529 shares during the last quarter. Blue Trust Inc. boosted its position in Consolidated Edison by 27.6% during the second quarter. Blue Trust Inc. now owns 2,749 shares of the utilities provider’s stock valued at $250,000 after buying an additional 595 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Consolidated Edison by 22.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,324 shares of the utilities provider’s stock valued at $1,281,000 after buying an additional 2,651 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Consolidated Edison by 2.4% during the second quarter. Nisa Investment Advisors LLC now owns 131,826 shares of the utilities provider’s stock valued at $11,788,000 after buying an additional 3,027 shares during the last quarter. Finally, Dakota Wealth Management increased its holdings in shares of Consolidated Edison by 3.9% in the second quarter. Dakota Wealth Management now owns 10,053 shares of the utilities provider’s stock worth $899,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.1 %

Shares of ED opened at $92.69 on Monday. The company’s 50-day moving average price is $100.02 and its 200 day moving average price is $98.22. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The firm has a market cap of $32.11 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 3.11 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analysts Set New Price Targets

Several analysts recently issued reports on ED shares. Barclays cut their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $90.00 to $100.00 in a report on Thursday. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.96.

Consolidated Edison Company 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.