Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Trimmed by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,963 shares of the utilities provider’s stock after selling 110 shares during the quarter. Apollon Wealth Management LLC’s holdings in Consolidated Edison were worth $621,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Retirement Planning Co of New England Inc. grew its position in Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after buying an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Consolidated Edison by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 100 shares during the period. Brookstone Capital Management raised its holdings in Consolidated Edison by 0.6% during the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 141 shares during the period. Finally, Center For Asset Management LLC boosted its stake in Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.3 %

Shares of NYSE ED opened at $96.44 on Friday. The firm has a market capitalization of $33.41 billion, a PE ratio of 18.16, a PEG ratio of 3.21 and a beta of 0.36. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $102.68 and a two-hundred day moving average price of $97.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.02 billion. As a group, analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.44%. Consolidated Edison’s payout ratio is 62.52%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ED. Scotiabank upped their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Barclays dropped their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. UBS Group raised their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company upped their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.35.

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.