Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Lowered by Advisors Capital Management LLC

Advisors Capital Management LLC cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,851 shares of the utilities provider’s stock after selling 520 shares during the period. Advisors Capital Management LLC’s holdings in Consolidated Edison were worth $254,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Jacobi Capital Management LLC lifted its position in shares of Consolidated Edison by 4.2% during the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after acquiring an additional 104 shares during the last quarter. Richwood Investment Advisors LLC grew its holdings in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after acquiring an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. raised its position in shares of Consolidated Edison by 5.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 125 shares during the period. Trust Point Inc. lifted its holdings in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 131 shares during the last quarter. Finally, Haverford Trust Co boosted its position in shares of Consolidated Edison by 3.7% in the 4th quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 132 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.4 %

Consolidated Edison stock opened at $111.79 on Wednesday. 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, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The company’s fifty day simple moving average is $103.83 and its 200-day simple moving average is $99.05. The stock has a market cap of $40.27 billion, a P/E ratio of 21.33, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ED. Citigroup boosted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Scotiabank boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Finally, Morgan Stanley increased their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.80.

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.