Farther Finance Advisors LLC Has $368,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Farther Finance Advisors LLC cut its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,119 shares of the utilities provider’s stock after selling 1,136 shares during the quarter. Farther Finance Advisors LLC’s holdings in Consolidated Edison were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. United Bank bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $227,000. OneDigital Investment Advisors LLC increased its holdings in Consolidated Edison by 5.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 15,988 shares of the utilities provider’s stock valued at $1,665,000 after buying an additional 770 shares during the period. Empowered Funds LLC raised its stake in shares of Consolidated Edison by 7.6% in the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock valued at $602,000 after buying an additional 409 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Consolidated Edison by 7.1% during the 3rd quarter. Natixis Advisors LLC now owns 171,322 shares of the utilities provider’s stock worth $17,840,000 after acquiring an additional 11,419 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Consolidated Edison by 11.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock valued at $3,655,000 after acquiring an additional 3,716 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 1.3 %

Shares of NYSE ED opened at $107.74 on Tuesday. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $108.43. The firm’s 50-day simple moving average is $96.35 and its 200 day simple moving average is $98.21. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $37.36 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ED. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group boosted their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.