Sigma Planning Corp Sells 608 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sigma Planning Corp reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,039 shares of the utilities provider’s stock after selling 608 shares during the period. Sigma Planning Corp’s holdings in Consolidated Edison were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter valued at about $27,000. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison during the first quarter valued at approximately $33,000. TruNorth Capital Management LLC bought a new stake in Consolidated Edison during the second quarter worth $33,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Barclays reduced their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Guggenheim upped their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.35.

Consolidated Edison Price Performance

Shares of ED opened at $97.07 on Wednesday. The business has a 50-day moving average of $103.29 and a 200-day moving average of $97.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market capitalization of $33.63 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.42%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is presently 62.52%.

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.