Dixon Hubard Feinour & Brown Inc. VA lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 42,184 shares of the utilities provider’s stock after buying an additional 293 shares during the quarter. Consolidated Edison accounts for 1.1% of Dixon Hubard Feinour & Brown Inc. VA’s portfolio, making the stock its 29th biggest holding. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Consolidated Edison were worth $3,578,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Sontag Advisory LLC bought a new position in Consolidated Edison in the 4th quarter worth $30,000. Field & Main Bank bought a new position in Consolidated Edison in the 1st quarter worth $30,000. Willingdon Wealth Management bought a new position in Consolidated Edison in the 1st quarter worth $31,000. Financial Gravity Wealth Inc. bought a new position in Consolidated Edison in the 1st quarter worth $32,000. Finally, Larson Financial Group LLC bought a new position in Consolidated Edison in the 4th quarter worth $33,000. 59.41% of the stock is owned by institutional investors and hedge funds.
NYSE:ED opened at $88.54 on Monday. Consolidated Edison, Inc. has a 52-week low of $72.63 and a 52-week high of $90.51. The company has a current ratio of 0.60, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01. The stock has a market cap of $28.96 billion, a PE ratio of 20.50, a P/E/G ratio of 10.12 and a beta of 0.13.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. Consolidated Edison had a net margin of 11.03% and a return on equity of 8.31%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, research analysts expect that Consolidated Edison, Inc. will post 4.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.74 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.96 annualized dividend and a dividend yield of 3.34%. Consolidated Edison’s payout ratio is 68.52%.
Several research analysts recently commented on ED shares. Mizuho started coverage on shares of Consolidated Edison in a report on Monday, March 11th. They issued a “neutral” rating and a $85.00 target price on the stock. ValuEngine downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Bank of America upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $96.00 to $94.00 in a report on Friday, April 26th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Finally, Morgan Stanley lifted their target price on shares of Consolidated Edison from $87.00 to $91.00 and gave the stock an “underweight” rating in a report on Friday. Five analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.26.
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Consolidated Edison Company 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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