SlateStone Wealth LLC Has $650,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

SlateStone Wealth LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,146 shares of the utilities provider’s stock after acquiring an additional 165 shares during the period. SlateStone Wealth LLC’s holdings in Consolidated Edison were worth $650,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. grew its position in Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 194 shares during the last quarter. Level Financial Advisors Inc. acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $29,000. Bruce G. Allen Investments LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $31,000. Finally, CVA Family Office LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $32,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank lowered their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday. Barclays raised their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Royal Bank of Canada cut their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. UBS Group dropped their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.54.

Consolidated Edison Stock Up 0.2 %

Shares of ED traded up $0.22 on Tuesday, reaching $92.95. The company’s stock had a trading volume of 821,043 shares, compared to its average volume of 1,856,428. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92. The stock has a market capitalization of $32.12 billion, a PE ratio of 12.92, a PEG ratio of 8.65 and a beta of 0.35. The firm has a fifty day moving average of $89.03 and a 200-day moving average of $89.76.

Consolidated Edison (NYSE:ED) last issued 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. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th 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 3.57%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 46.24%.

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.