Ossiam Sells 3,161 Shares of Consolidated Edison, Inc. (NYSE:ED)

Ossiam reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 27.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,299 shares of the utilities provider’s stock after selling 3,161 shares during the period. Ossiam’s holdings in Consolidated Edison were worth $741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Consolidated Edison by 146.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,227 shares of the utilities provider’s stock worth $1,269,000 after purchasing an additional 8,445 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Consolidated Edison by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,463 shares of the utilities provider’s stock worth $117,288,000 after buying an additional 38,630 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Consolidated Edison by 9.5% during the 4th quarter. First Trust Advisors LP now owns 787,035 shares of the utilities provider’s stock worth $70,227,000 after buying an additional 68,004 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Consolidated Edison by 10.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 913,387 shares of the utilities provider’s stock valued at $81,430,000 after buying an additional 87,298 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Consolidated Edison by 2.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 713,317 shares of the utilities provider’s stock valued at $63,649,000 after acquiring an additional 20,288 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the subject of a number of analyst reports. Scotiabank lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley raised their price target 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 issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.80.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $111.01 on Tuesday. The business’s 50-day simple moving average is $105.09 and its 200 day simple moving average is $99.22. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $39.99 billion, a price-to-earnings ratio of 21.19, a P/E/G 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.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 net margin of 11.93% and a return on equity of 8.62%. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.06%. Consolidated Edison’s dividend payout ratio 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.