Sanctuary Advisors LLC Boosts Position in Consolidated Edison, Inc. (NYSE:ED)

Sanctuary Advisors LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 23.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 reporting period.

Other hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in shares of Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares during the last quarter. National Pension Service increased its position in Consolidated Edison by 7.0% in the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after buying an additional 30,838 shares during the period. Quantinno Capital Management LP lifted its stake in Consolidated Edison by 42.6% in the third quarter. Quantinno Capital Management LP now owns 43,941 shares of the utilities provider’s stock valued at $4,576,000 after buying an additional 13,124 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at $521,000. Finally, Parallel Advisors LLC grew its position in shares of Consolidated Edison by 12.1% during the second quarter. Parallel Advisors LLC now owns 8,032 shares of the utilities provider’s stock worth $718,000 after acquiring an additional 869 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $92.69 on Monday. The stock has a fifty day simple moving average of $100.02 and a 200 day simple moving average of $98.22. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company has a market capitalization of $32.11 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 3.11 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ED. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $90.00 to $100.00 in a research report on Thursday. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $99.96.

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.