Courier Capital LLC Has $357,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Courier Capital LLC lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,920 shares of the utilities provider’s stock after selling 239 shares during the quarter. Courier Capital LLC’s holdings in Consolidated Edison were worth $357,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ED. Diversified Trust Co boosted its holdings in shares of Consolidated Edison by 140.8% during the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock worth $3,361,000 after buying an additional 21,604 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Consolidated Edison by 11,130.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,246 shares of the utilities provider’s stock worth $202,000 after buying an additional 2,226 shares during the period. Mariner LLC boosted its holdings in shares of Consolidated Edison by 24.9% during the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock worth $7,844,000 after buying an additional 18,270 shares during the period. Comerica Bank bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $8,014,000. Finally, PGGM Investments boosted its holdings in shares of Consolidated Edison by 45.5% during the 3rd quarter. PGGM Investments now owns 53,476 shares of the utilities provider’s stock worth $4,574,000 after buying an additional 16,729 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $90.05 on Thursday. The company has a 50 day simple moving average of $88.95 and a 200 day simple moving average of $89.53. The stock has a market cap of $31.11 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 8.24 and a beta of 0.35. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. Research analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.69%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Tuesday, February 13th. Consolidated Edison’s payout ratio is presently 46.24%.

Analyst Ratings Changes

Several analysts recently commented on ED shares. Royal Bank of Canada reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. UBS Group cut their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on shares of Consolidated Edison from $84.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, November 29th. Scotiabank boosted their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $87.96.

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.