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

MV Capital Management Inc. cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 418 shares of the utilities provider’s stock after selling 106 shares during the period. MV Capital Management Inc.’s holdings in Consolidated Edison were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Revolve Wealth Partners LLC boosted its holdings in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Consolidated Edison by 3.6% during the 4th quarter. Apollon Wealth Management LLC now owns 6,178 shares of the utilities provider’s stock worth $551,000 after purchasing an additional 215 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Consolidated Edison by 3.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 6,247 shares of the utilities provider’s stock valued at $557,000 after acquiring an additional 187 shares during the period. Empowered Funds LLC boosted its holdings in Consolidated Edison by 9.2% in the 4th quarter. Empowered Funds LLC now owns 6,319 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 534 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in Consolidated Edison by 17.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 10,394 shares of the utilities provider’s stock worth $927,000 after buying an additional 1,514 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 0.1%

Shares of NYSE:ED opened at $102.46 on Thursday. The firm has a market cap of $36.92 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 3.05 and a beta of 0.27. 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 $106.81 and its 200 day simple moving average is $100.47. 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 released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same period in the prior year, the business earned $2.15 EPS. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.32%. Consolidated Edison’s dividend payout ratio is currently 62.85%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Morgan Stanley cut their price target on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, May 22nd. KeyCorp downgraded Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a report on Wednesday, May 14th. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $104.27.

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.