Executive Wealth Management LLC lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,234 shares of the utilities provider’s stock after acquiring an additional 164 shares during the period. Executive Wealth Management LLC’s holdings in Consolidated Edison were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. M Holdings Securities Inc. acquired a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $1,611,000. NEXT Financial Group Inc lifted its stake in Consolidated Edison by 682.1% during the second quarter. NEXT Financial Group Inc now owns 23,266 shares of the utilities provider’s stock valued at $2,040,000 after purchasing an additional 20,291 shares during the last quarter. Fagan Associates Inc. acquired a new stake in Consolidated Edison during the second quarter valued at approximately $201,000. OLD National Bancorp IN lifted its stake in Consolidated Edison by 6.1% during the second quarter. OLD National Bancorp IN now owns 31,367 shares of the utilities provider’s stock valued at $2,750,000 after purchasing an additional 1,811 shares during the last quarter. Finally, NumerixS Investment Technologies Inc lifted its stake in Consolidated Edison by 22.2% during the first quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the utilities provider’s stock valued at $826,000 after purchasing an additional 1,781 shares during the last quarter. 58.34% of the stock is owned by institutional investors.

Shares of NYSE:ED traded up $0.61 during mid-day trading on Thursday, hitting $86.58. The stock had a trading volume of 24,549 shares, compared to its average volume of 1,592,765. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $28.61 billion, a P/E ratio of 20.01, a PEG ratio of 10.08 and a beta of 0.10. Consolidated Edison, Inc. has a 12-month low of $73.29 and a 12-month high of $90.51. The firm’s 50 day simple moving average is $87.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.02). The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Consolidated Edison had a net margin of 10.71% and a return on equity of 8.04%. During the same quarter last year, the company posted $0.61 EPS. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 4.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $2.96 annualized dividend and a dividend yield of 3.42%. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.

Several research firms recently commented on ED. Barclays reissued a “hold” rating and set a $90.00 target price on shares of Consolidated Edison in a research note on Thursday, June 20th. ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley increased their target price on shares of Consolidated Edison from $87.00 to $91.00 and gave the company an “underweight” rating in a research note on Friday, June 14th. Bank of America raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and cut their target price for the company from $96.00 to $94.00 in a research note on Friday, April 26th. They noted that the move was a valuation call. Finally, KeyCorp began coverage on shares of Consolidated Edison in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $84.73.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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