Consolidated Edison, Inc. (NYSE:ED) Position Trimmed by Ingalls & Snyder LLC

Ingalls & Snyder LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 5.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,176 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Ingalls & Snyder LLC’s holdings in Consolidated Edison were worth $1,893,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Consolidated Edison in the third quarter worth approximately $30,000. TruNorth Capital Management LLC acquired a new stake in shares of Consolidated Edison during the second quarter valued at approximately $33,000. Cultivar Capital Inc. purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $54,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Consolidated Edison in the 3rd quarter worth approximately $55,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.0 %

ED stock opened at $97.54 on Wednesday. The firm has a market cap of $33.79 billion, a PE ratio of 18.37, a PEG ratio of 3.31 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a fifty day simple moving average of $101.53 and a 200 day simple moving average of $98.23. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.40%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Barclays dropped their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Scotiabank upped their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average target price of $99.13.

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.