Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 21.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,140 shares of the utilities provider’s stock after selling 875 shares during the quarter. Navellier & Associates Inc.’s holdings in Consolidated Edison were worth $327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ED. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at about $27,000. Beacon Capital Management LLC grew its holdings in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth about $30,000. Pathway Financial Advisers LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.3 %

NYSE:ED opened at $98.36 on Friday. 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 business’s 50 day moving average is $102.01 and its two-hundred day moving average is $98.08. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a market cap of $34.07 billion, a PE ratio of 18.52, a P/E/G ratio of 3.26 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. On average, analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Guggenheim upped their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average price target of $98.19.

About Consolidated Edison

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.