ORG Partners LLC Has $100,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

ORG Partners LLC reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 73.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 959 shares of the utilities provider’s stock after selling 2,658 shares during the period. ORG Partners LLC’s holdings in Consolidated Edison were worth $100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. Quarry LP acquired a new stake in Consolidated Edison in the fourth quarter worth about $35,000. EP Wealth Advisors LLC boosted its stake in shares of Consolidated Edison by 2.8% in the 4th quarter. EP Wealth Advisors LLC now owns 12,621 shares of the utilities provider’s stock valued at $1,148,000 after purchasing an additional 346 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Consolidated Edison by 1.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 32,261 shares of the utilities provider’s stock worth $2,935,000 after buying an additional 420 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $1,109,000. Finally, Nomura Holdings Inc. lifted its holdings in Consolidated Edison by 154.9% in the fourth quarter. Nomura Holdings Inc. now owns 6,970 shares of the utilities provider’s stock valued at $634,000 after buying an additional 4,236 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED opened at $105.45 on Wednesday. The firm has a market cap of $36.47 billion, a P/E ratio of 20.24, a PEG ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.15 and a twelve month high of $106.41. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm’s 50 day moving average price is $102.48 and its two-hundred day moving average price is $96.35.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the firm posted $0.61 EPS. On average, analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were issued a dividend of $0.83 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.15%. Consolidated Edison’s payout ratio is presently 63.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. UBS Group increased their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company increased their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $96.46.

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.