Guidance Point Advisors LLC Takes $201,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Guidance Point Advisors LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,927 shares of the utilities provider’s stock, valued at approximately $201,000.

Several other hedge funds have also recently made changes to their positions in ED. Retirement Planning Co of New England Inc. raised its position in Consolidated Edison by 4.2% in the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after acquiring an additional 100 shares during the period. Brookstone Capital Management raised its position in Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after acquiring an additional 136 shares during the period. Checchi Capital Advisers LLC raised its position in Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 141 shares during the period. Finally, Center For Asset Management LLC raised its position in shares of Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $99.82 on Wednesday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The firm has a fifty day simple moving average of $103.51 and a two-hundred day simple moving average of $97.85. The stock has a market capitalization of $34.55 billion, a P/E ratio of 19.42, a PEG ratio of 3.37 and a beta of 0.36.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.33%. Consolidated Edison’s dividend payout ratio is presently 64.59%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ED. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. UBS Group raised their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Barclays raised their price objective on shares of Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Scotiabank raised their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company raised their target price on shares of 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 analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.73.

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.