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

EP Wealth Advisors LLC lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,731 shares of the utilities provider’s stock after selling 964 shares during the quarter. EP Wealth Advisors LLC’s holdings in Consolidated Edison were worth $868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobi Capital Management LLC lifted its position in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares during the period. Richwood Investment Advisors LLC lifted its holdings in shares of Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after buying an additional 115 shares during the period. Penobscot Investment Management Company Inc. boosted its stake in 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 valued at $205,000 after buying an additional 125 shares in the last quarter. Trust Point Inc. grew its holdings in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 131 shares during the period. Finally, Haverford Trust Co raised its position in Consolidated Edison by 3.7% in the fourth quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider’s stock worth $331,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ED shares. Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Citigroup raised their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Mizuho upped their price target on 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 Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Finally, UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $105.80.

Consolidated Edison Stock Down 0.1 %

NYSE:ED opened at $107.64 on Friday. The firm has a market capitalization of $38.78 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. 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’s fifty day moving average price is $108.57 and its 200 day moving average price is $99.90.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company 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 quarter in the prior year, the company posted $2.15 EPS. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued 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 3.16%. Consolidated Edison’s dividend payout ratio is 62.85%.

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.