SlateStone Wealth LLC Buys 165 Shares of Consolidated Edison, Inc. (NYSE:ED)

SlateStone Wealth LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 7,146 shares of the utilities provider’s stock after purchasing an additional 165 shares during the quarter. SlateStone Wealth LLC’s holdings in Consolidated Edison were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc raised its position in Consolidated Edison by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares during the last quarter. Northern Trust Corp raised its position in shares of Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after acquiring an additional 340,239 shares during the last quarter. Morgan Stanley raised its position in shares of Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock worth $361,069,000 after acquiring an additional 72,915 shares during the last quarter. Invesco Ltd. raised its position in shares of Consolidated Edison by 4.5% during the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock worth $254,616,000 after acquiring an additional 129,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Consolidated Edison by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock worth $169,716,000 after acquiring an additional 26,910 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.2 %

NYSE:ED traded up $0.22 during trading hours on Tuesday, hitting $92.95. 821,043 shares of the company were exchanged, compared to its average volume of 1,856,428. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 8.65 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The company has a fifty day simple moving average of $89.03 and a 200 day simple moving average of $89.76.

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

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ED. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. UBS Group decreased their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Scotiabank reduced their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday. Barclays increased their price target on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada reduced their price target on 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.54.

About Consolidated Edison

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.