Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Lifted by Greenleaf Trust

Greenleaf Trust lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,405 shares of the utilities provider’s stock after acquiring an additional 1,754 shares during the period. Greenleaf Trust’s holdings in Consolidated Edison were worth $674,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its position in shares of Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 194 shares in the last quarter. Level Financial Advisors Inc. purchased a new position in Consolidated Edison during the third quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $29,000. Bruce G. Allen Investments LLC purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $31,000. Finally, CVA Family Office LLC purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $32,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group lowered their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Barclays boosted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Scotiabank decreased their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.54.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $92.73 on Tuesday. The firm has a fifty day simple moving average of $89.03 and a 200-day simple moving average of $89.76. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92. The stock has a market capitalization of $32.04 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 8.65 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is currently 46.24%.

About Consolidated Edison

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.