Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Stephens Inc. AR

Stephens Inc. AR decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 82.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,318 shares of the utilities provider’s stock after selling 74,625 shares during the quarter. Stephens Inc. AR’s holdings in Consolidated Edison were worth $1,456,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp boosted its holdings in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. Geode Capital Management LLC boosted its stake in shares of Consolidated Edison by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after buying an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Consolidated Edison by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after buying an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares during the period. Finally, FMR LLC raised its holdings in Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after acquiring an additional 572,530 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ED. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Barclays cut their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $100.00.

Consolidated Edison Trading Down 1.8 %

NYSE ED opened at $94.57 on Thursday. The company has a 50-day moving average of $91.89 and a 200-day moving average of $98.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a market cap of $32.76 billion, a P/E ratio of 17.81, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.