Aaron Wealth Advisors LLC Has $577,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Aaron Wealth Advisors LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,456 shares of the utilities provider’s stock after purchasing an additional 206 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Consolidated Edison were worth $577,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ED. Beacon Capital Management LLC grew its holdings in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. Tidemark LLC purchased a new position in Consolidated Edison in the fourth quarter worth $29,000. Raleigh Capital Management Inc. bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Consolidated Edison during the fourth quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Consolidated Edison during the first quarter worth $33,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.2 %

ED stock traded up $0.24 during midday trading on Wednesday, hitting $100.41. The stock had a trading volume of 1,922,493 shares, compared to its average volume of 1,885,202. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The firm has a market cap of $34.73 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.56 and a beta of 0.34. The company’s 50-day moving average price is $94.25 and its 200 day moving average price is $92.33. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. During the same quarter last year, the company earned $0.61 earnings per share. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Wall Street Analyst Weigh In

ED has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday. Mizuho raised their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Finally, Wells Fargo & Company increased their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.19.

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.