Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Trimmed by Rise Advisors LLC

Rise Advisors LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,250 shares of the utilities provider’s stock after selling 157 shares during the quarter. Rise Advisors LLC’s holdings in Consolidated Edison were worth $290,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Diversified Trust Co raised its position in shares of Consolidated Edison by 0.3% during the 4th quarter. Diversified Trust Co now owns 44,317 shares of the utilities provider’s stock worth $3,954,000 after buying an additional 138 shares in the last quarter. Centre Asset Management LLC raised its stake in shares of Consolidated Edison by 7.2% in the 4th quarter. Centre Asset Management LLC now owns 2,519 shares of the utilities provider’s stock worth $225,000 after buying an additional 169 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 4.0% in the 3rd 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Consolidated Edison by 5.1% in the third quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock valued at $49,745,000 after buying an additional 23,024 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its stake in Consolidated Edison by 6.0% during the third quarter. Peapack Gladstone Financial Corp now owns 25,606 shares of the utilities provider’s stock valued at $2,667,000 after buying an additional 1,441 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ED shares. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays dropped their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.64.

Consolidated Edison Stock Down 0.1 %

Shares of ED stock traded down $0.09 during trading on Tuesday, hitting $88.28. 812,029 shares of the company were exchanged, compared to its average volume of 1,570,493. The business’s 50-day simple moving average is $95.21 and its 200 day simple moving average is $97.96. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The firm has a market capitalization of $30.58 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 3.11 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 62.52%.

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.