Atria Wealth Solutions Inc. Sells 790 Shares of Consolidated Edison, Inc. (NYSE:ED)

Atria Wealth Solutions Inc. reduced its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 38,329 shares of the utilities provider’s stock after selling 790 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Consolidated Edison were worth $3,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James & Associates raised its stake in shares of Consolidated Edison by 20.1% during the 3rd quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider’s stock worth $19,800,000 after purchasing an additional 31,761 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Consolidated Edison by 22.7% during the third quarter. Sequoia Financial Advisors LLC now owns 12,535 shares of the utilities provider’s stock worth $1,305,000 after buying an additional 2,317 shares during the last quarter. Eastern Bank purchased a new stake in Consolidated Edison during the third quarter worth about $435,000. Greenleaf Trust raised its position in Consolidated Edison by 17.5% in the third quarter. Greenleaf Trust now owns 8,147 shares of the utilities provider’s stock worth $848,000 after acquiring an additional 1,215 shares during the period. Finally, Lake Street Private Wealth LLC purchased a new position in Consolidated Edison in the third quarter valued at about $215,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ED shares. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley decreased their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays lowered their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.70.

Consolidated Edison Trading Up 0.5 %

Shares of ED stock opened at $95.77 on Friday. The company has a market capitalization of $33.18 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The business’s fifty day moving average is $91.98 and its 200 day moving average is $98.02. 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 quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company 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 represents a $3.40 annualized dividend and a yield of 3.55%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend 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.