Consolidated Edison, Inc. (NYSE:ED - Get Free Report) CFO Robert N. Hoglund bought 156 shares of the stock in a transaction that occurred on Friday, March 29th. The shares were purchased at an average price of $90.81 per share, for a total transaction of $14,166.36. Following the purchase, the chief financial officer now owns 45,052 shares in the company, valued at approximately $4,091,172.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Consolidated Edison Stock Performance
Consolidated Edison stock opened at $90.19 on Friday. The company's 50-day moving average price is $89.08 and its 200-day moving average price is $89.52. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $31.16 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 8.48 and a beta of 0.35.
Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.81 EPS. The business's quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.
Consolidated Edison Increases Dividend
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The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.68%. Consolidated Edison's payout ratio is currently 46.24%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on ED shares. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a "neutral" rating and a $92.50 price target on the stock. Royal Bank of Canada reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a "sector perform" rating on the stock in a report on Friday, February 16th. Barclays lifted their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Thursday, March 14th. KeyCorp upgraded shares of Consolidated Edison from an "underweight" rating to a "sector weight" rating in a report on Thursday, January 4th. Finally, Scotiabank lifted their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a "sector underperform" rating in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $87.96.
Read Our Latest Analysis on ED
Hedge Funds Weigh In On Consolidated Edison
Large investors have recently made changes to their positions in the company. Main Street Group LTD purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $25,000. Retirement Group LLC boosted its stake in shares of Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider's stock worth $26,000 after purchasing an additional 116 shares during the period. Financial Gravity Asset Management Inc. boosted its position in Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider's stock valued at $25,000 after buying an additional 194 shares during the period. Level Financial Advisors Inc. purchased a new stake in Consolidated Edison in the 3rd quarter valued at about $26,000. Finally, Tyler Stone Wealth Management purchased a new stake in Consolidated Edison in the 2nd quarter valued at about $28,000. 66.29% of the stock is owned by hedge funds and other institutional investors.
Consolidated Edison Company Profile
(
Get Free Report)
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.
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