First County Bank CT Sells 183 Shares of Consolidated Edison, Inc. (NYSE:ED)

First County Bank CT decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,365 shares of the utilities provider’s stock after selling 183 shares during the quarter. First County Bank CT’s holdings in Consolidated Edison were worth $350,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $27,000. Beacon Capital Management LLC lifted its position in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $30,000. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $33,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.3 %

NYSE ED opened at $98.36 on Friday. The stock has a fifty day moving average of $102.01 and a 200-day moving average of $98.08. The stock has a market capitalization of $34.07 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 3.26 and a beta of 0.36. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. 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 released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.38%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Analyst Ratings Changes

ED has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Wells Fargo & Company increased their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank increased their target price on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. 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. Finally, Barclays dropped their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $98.19.

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.