Lifeworks Advisors LLC Has $440,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Lifeworks Advisors LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,932 shares of the utilities provider’s stock after selling 1,159 shares during the quarter. Lifeworks Advisors LLC’s holdings in Consolidated Edison were worth $440,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp increased its stake in Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after acquiring an additional 399,034 shares during the period. Geode Capital Management LLC grew its holdings in shares of Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after purchasing an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Consolidated Edison by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after purchasing an additional 77,323 shares during the period. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Consolidated Edison by 13.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider’s stock valued at $164,811,000 after purchasing an additional 224,258 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 2.8 %

Shares of ED opened at $103.73 on Friday. The company has a market capitalization of $35.97 billion, a P/E ratio of 19.80, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $107.75. The business’s 50 day simple moving average is $94.39 and its 200-day simple moving average is $98.03. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.28%. Consolidated Edison’s payout ratio is currently 64.89%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ED. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. 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. UBS Group lifted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley dropped 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $101.50.

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.