Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 46,517 shares of the utilities provider’s stock after selling 1,156 shares during the period. Private Advisor Group LLC’s holdings in Consolidated Edison were worth $4,151,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bryn Mawr Capital Management LLC lifted its holdings in shares of Consolidated Edison by 1,676.3% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 58,584 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 55,286 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Consolidated Edison by 1.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider’s stock valued at $925,000 after acquiring an additional 133 shares during the period. Venturi Wealth Management LLC lifted its holdings in Consolidated Edison by 613.2% in the fourth quarter. Venturi Wealth Management LLC now owns 4,793 shares of the utilities provider’s stock valued at $428,000 after acquiring an additional 4,121 shares during the period. CIBC Asset Management Inc boosted its position in Consolidated Edison by 1.4% in the 4th quarter. CIBC Asset Management Inc now owns 121,869 shares of the utilities provider’s stock worth $10,862,000 after purchasing an additional 1,641 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Consolidated Edison by 64.2% during the 4th quarter. Baillie Gifford & Co. now owns 19,093 shares of the utilities provider’s stock worth $1,704,000 after purchasing an additional 7,465 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 2.6 %

Shares of ED opened at $98.27 on Monday. The company’s 50-day moving average price is $92.09 and its 200 day moving average price is $97.96. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market cap of $34.04 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of several analyst reports. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Barclays decreased their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho raised 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. Finally, Morgan Stanley lowered their price target on shares of 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.70.

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.