OneAscent Wealth Management LLC Makes New $237,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

OneAscent Wealth Management LLC bought a new stake in Consolidated Edison, Inc. (NYSE:ED) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,277 shares of the utilities provider’s stock, valued at approximately $237,000.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the 3rd quarter valued at about $27,000. Beacon Capital Management LLC increased its holdings in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the 3rd quarter worth approximately $30,000. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison during the 1st quarter worth $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the 2nd quarter worth $33,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $96.45 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company’s 50 day moving average price is $102.51 and its two-hundred day moving average price is $98.05. The company has a market capitalization of $33.41 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 3.24 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, analysts expect that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Barclays cut their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Guggenheim raised their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” 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, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.35.

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.