Quadcap Wealth Management LLC Sells 331 Shares of Consolidated Edison, Inc. (NYSE:ED)

Quadcap Wealth Management LLC cut its stake in Consolidated Edison, Inc. (NYSE:ED) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,566 shares of the utilities provider’s stock after selling 331 shares during the period. Quadcap Wealth Management LLC’s holdings in Consolidated Edison were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Barclays PLC grew its holdings in Consolidated Edison by 30.1% during the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock valued at $128,279,000 after purchasing an additional 285,115 shares during the period. JPMorgan Chase & Co. grew its holdings in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares during the period. Brookstone Capital Management grew its holdings in Consolidated Edison by 1.9% during the fourth quarter. Brookstone Capital Management now owns 24,642 shares of the utilities provider’s stock valued at $2,199,000 after purchasing an additional 469 shares during the period. Oak Thistle LLC acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $511,000. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Consolidated Edison by 19.7% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,327 shares of the utilities provider’s stock valued at $386,000 after purchasing an additional 711 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $101.94 on Friday. The company’s fifty day simple moving average is $108.44 and its 200-day simple moving average is $99.83. 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 firm has a market cap of $36.73 billion, a PE ratio of 19.45, a P/E/G ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last posted 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). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company posted $2.15 earnings per share. Equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ED. Morgan Stanley set a $94.00 price target on shares of Consolidated Edison and gave the company an “overweight” rating in a report on Wednesday, April 23rd. UBS Group upped their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, May 5th. KeyCorp cut shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Wednesday. Finally, Mizuho upped 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given 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 an average price target of $104.36.

Consolidated Edison Company 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.