Consolidated Edison, Inc. (NYSE:ED) Position Reduced by Courier Capital LLC

Courier Capital LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,920 shares of the utilities provider’s stock after selling 239 shares during the period. Courier Capital LLC’s holdings in Consolidated Edison were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. grew its position in Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after buying an additional 194 shares during the last quarter. Level Financial Advisors Inc. acquired a new position in Consolidated Edison in the third quarter worth approximately $26,000. Retirement Group LLC grew its position in Consolidated Edison by 74.8% in the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after buying an additional 116 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in Consolidated Edison in the second quarter worth approximately $28,000. Finally, CGC Financial Services LLC acquired a new position in Consolidated Edison in the second quarter worth approximately $30,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of several recent research reports. Barclays lifted their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Scotiabank lifted their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Consolidated Edison from $84.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 29th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada lowered their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.96.

Consolidated Edison Trading Up 3.0 %

Shares of NYSE:ED opened at $90.05 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.92. The firm has a fifty day moving average of $88.95 and a two-hundred day moving average of $89.53. The firm has a market capitalization of $31.11 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 8.24 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the business earned $0.81 EPS. Consolidated Edison’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is presently 46.24%.

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.