Natixis Advisors LLC Sells 17,957 Shares of Consolidated Edison, Inc. (NYSE:ED)

Natixis Advisors LLC lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,365 shares of the utilities provider’s stock after selling 17,957 shares during the quarter. Natixis Advisors LLC’s holdings in Consolidated Edison were worth $13,685,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter worth about $217,000. Harrington Investments INC raised its holdings in Consolidated Edison by 0.9% during the fourth quarter. Harrington Investments INC now owns 27,369 shares of the utilities provider’s stock worth $2,442,000 after acquiring an additional 240 shares in the last quarter. Catalyst Funds Management Pty Ltd boosted its position in Consolidated Edison by 34.1% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 12,200 shares of the utilities provider’s stock valued at $1,089,000 after purchasing an additional 3,100 shares during the last quarter. LBP AM SA bought a new position in Consolidated Edison in the fourth quarter valued at approximately $15,124,000. Finally, PGGM Investments increased its position in shares of Consolidated Edison by 79.6% during the 4th quarter. PGGM Investments now owns 14,108 shares of the utilities provider’s stock worth $1,259,000 after purchasing an additional 6,252 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. UBS Group increased 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. Barclays lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $107.53 on Thursday. The company has a market capitalization of $37.29 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.05 and a beta of 0.30. 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, Inc. has a 12 month low of $87.16 and a 12 month high of $108.43. The stock’s 50 day moving average is $97.12 and its 200-day moving average is $98.32.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.16%. Consolidated Edison’s payout ratio is 64.89%.

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.