Twin Capital Management Inc. Sells 485 Shares of Consolidated Edison, Inc. (NYSE:ED)

Twin Capital Management Inc. lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,484 shares of the utilities provider’s stock after selling 485 shares during the quarter. Twin Capital Management Inc.’s holdings in Consolidated Edison were worth $2,864,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co boosted its stake in shares of Consolidated Edison by 140.8% in the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock valued at $3,361,000 after purchasing an additional 21,604 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Consolidated Edison by 169.9% in the 4th quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock valued at $5,487,000 after purchasing an additional 37,971 shares during the last quarter. Blackhawk Capital Partners LLC. bought a new position in shares of Consolidated Edison in the 4th quarter valued at about $1,551,000. Mariner LLC boosted its stake in shares of Consolidated Edison by 24.9% in the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock valued at $7,844,000 after purchasing an additional 18,270 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $8,014,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. UBS Group cut their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Royal Bank of Canada cut their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Scotiabank increased their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research report on Tuesday, February 20th. Finally, Barclays increased their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.96.

Consolidated Edison Stock Down 0.2 %

Shares of ED traded down $0.22 during mid-day trading on Thursday, hitting $90.11. 752,435 shares of the company’s stock were exchanged, compared to its average volume of 1,772,641. The company has a market cap of $31.13 billion, a PE ratio of 12.58, a P/E/G ratio of 8.24 and a beta of 0.35. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92. The company has a 50-day simple moving average of $88.87 and a 200 day simple moving average of $89.54. 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 issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The company 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 business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

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.