Kiley Juergens Wealth Management LLC Purchases Shares of 8,536 Consolidated Edison Inc $ED

Kiley Juergens Wealth Management LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 8,536 shares of the utilities provider’s stock, valued at approximately $966,000.

Several other large investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its holdings in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after purchasing an additional 5,955,653 shares during the period. Norges Bank bought a new stake in Consolidated Edison during the fourth quarter worth approximately $489,806,000. Deutsche Bank AG lifted its position in Consolidated Edison by 101.4% in the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock worth $359,276,000 after purchasing an additional 1,820,877 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $113,977,000. Finally, AQR Capital Management LLC raised its stake in shares of Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after buying an additional 974,419 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 2.1%

NYSE:ED traded up $2.39 on Tuesday, hitting $114.33. 283,572 shares of the company’s stock traded hands, compared to its average volume of 2,251,397. The company has a market cap of $42.13 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $107.88 and a 200-day moving average price of $107.77.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were given a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s payout ratio is presently 59.76%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Argus set a $112.00 target price on Consolidated Edison in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Evercore set a $116.00 target price on shares of Consolidated Edison in a report on Monday, May 11th. Mizuho restated a “neutral” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and an average target price of $108.07.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.