Ballentine Partners LLC Has $443,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Ballentine Partners LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,256 shares of the utilities provider’s stock after selling 191 shares during the quarter. Ballentine Partners LLC’s holdings in Consolidated Edison were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Beacon Capital Management LLC increased its holdings in Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison during the 1st quarter worth $33,000. TruNorth Capital Management LLC acquired a new stake in Consolidated Edison in the second quarter valued at about $33,000. Versant Capital Management Inc boosted its stake in Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after buying an additional 327 shares in the last quarter. Finally, ESL Trust Services LLC acquired a new position in Consolidated Edison during the first quarter worth about $54,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 2.2 %

ED stock opened at $104.60 on Monday. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock’s 50 day simple moving average is $103.35 and its 200 day simple moving average is $97.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The company has a market cap of $36.17 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 3.57 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period last year, the firm earned $0.61 earnings per share. On average, research analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analyst Ratings Changes

A number of research firms recently issued reports on ED. Scotiabank upped their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Bank of America increased their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company upped their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average target price of $98.73.

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.