Consolidated Edison, Inc. (NYSE:ED) Position Reduced by Twin Capital Management Inc.

Twin Capital Management Inc. trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,484 shares of the utilities provider’s stock after selling 485 shares during the quarter. Twin Capital Management Inc.’s holdings in Consolidated Edison were worth $2,864,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ED. Financial Gravity Asset Management Inc. boosted its holdings in shares of 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. acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at about $26,000. Retirement Group LLC boosted its holdings in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after buying an additional 116 shares during the period. Tyler Stone Wealth Management acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $29,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED stock traded down $0.22 during midday trading on Thursday, reaching $90.11. 752,435 shares of the company were exchanged, compared to its average volume of 1,772,641. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92. The company has a market cap of $31.13 billion, a P/E ratio of 12.58, a PEG ratio of 8.24 and a beta of 0.35. The company’s 50 day moving average price is $88.87 and its two-hundred day moving average price is $89.54. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS 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 company 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 earned $0.81 EPS. Consolidated Edison’s revenue was down 14.6% on a year-over-year basis. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. 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. UBS Group reduced their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price for the company. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Finally, Scotiabank boosted their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $87.96.

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.