Consolidated Edison, Inc. (NYSE:ED) Stock Position Lowered by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC lessened its position in Consolidated Edison, Inc. (NYSE:ED) by 15.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,635 shares of the utilities provider’s stock after selling 839 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Consolidated Edison were worth $422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. raised its position in shares of Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $29,000. Bruce G. Allen Investments LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $31,000. CVA Family Office LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $32,000. Finally, Venturi Wealth Management LLC raised its position in Consolidated Edison by 62.2% during the third quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock valued at $41,000 after buying an additional 183 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED traded down $1.18 during midday trading on Friday, reaching $92.93. The company’s stock had a trading volume of 1,418,568 shares, compared to its average volume of 2,051,882. The stock has a market cap of $32.11 billion, a P/E ratio of 12.95, a PEG ratio of 8.86 and a beta of 0.35. The company has a fifty day simple moving average of $89.52 and a 200 day simple moving average of $89.90. 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 twelve month low of $80.46 and a twelve month high of $100.44.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 return on equity of 8.41% and a net margin of 17.19%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company earned $0.81 EPS. The company’s quarterly revenue was down 14.6% on a year-over-year basis. Research analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on ED shares. Barclays boosted their target price on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Royal Bank of Canada dropped their target price 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. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Scotiabank lowered their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Finally, LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.54.

Consolidated Edison 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.