Arlington Trust Co LLC Reduces Stake in Consolidated Edison, Inc. (NYSE:ED)

Arlington Trust Co LLC lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,702 shares of the utilities provider’s stock after selling 190 shares during the period. Arlington Trust Co LLC’s holdings in Consolidated Edison were worth $152,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ED. Point72 Asset Management L.P. raised its holdings in Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after purchasing an additional 935,962 shares in the last quarter. FMR LLC grew its position in shares of Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after buying an additional 572,530 shares during the last quarter. International Assets Investment Management LLC raised its stake in Consolidated Edison by 10,262.1% during the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after acquiring an additional 548,204 shares in the last quarter. National Bank of Canada FI raised its stake in Consolidated Edison by 350.6% during the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after acquiring an additional 482,953 shares in the last quarter. Finally, State Street Corp lifted its position in Consolidated Edison by 1.7% in 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 last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ED shares. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Mizuho boosted 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. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays cut their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.00.

Consolidated Edison Stock Performance

Shares of ED opened at $96.05 on Monday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock has a market capitalization of $33.27 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.04 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company’s fifty day moving average is $91.96 and its two-hundred day moving average is $98.17.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.54%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 62.52%.

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.