Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,131 shares of the utilities provider’s stock after selling 1,123 shares during the quarter. Global Retirement Partners LLC’s holdings in Consolidated Edison were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ED. 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 worth $2,439,684,000 after purchasing an additional 399,034 shares during the period. Geode Capital Management LLC increased its position in shares of Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after purchasing an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Consolidated Edison by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after buying an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Finally, FMR LLC boosted its stake in Consolidated Edison by 82.3% during the third 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 in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ED. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.10.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $99.66 on Tuesday. The company’s fifty day moving average is $92.26 and its two-hundred day moving average is $97.95. The company has a market cap of $34.52 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted 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 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

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.