Consolidated Edison, Inc. (NYSE:ED) Stake Reduced by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,841 shares of the utilities provider’s stock after selling 420 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Consolidated Edison were worth $2,723,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its position in Consolidated Edison by 0.6% during the 1st quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 108 shares during the period. Sandy Spring Bank lifted its holdings in shares of Consolidated Edison by 11.4% in the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after buying an additional 125 shares during the period. Syon Capital LLC lifted its holdings in shares of Consolidated Edison by 2.3% in the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares during the period. G&S Capital LLC lifted its holdings in shares of Consolidated Edison by 1.6% in the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after buying an additional 139 shares during the period. Finally, Pinnacle West Asset Management Inc. raised its position in shares of Consolidated Edison by 5.1% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 148 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.7 %

ED stock opened at $97.52 on Thursday. The business has a fifty day moving average price of $92.09 and a 200 day moving average price of $91.30. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $98.55. The stock has a market capitalization of $33.73 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.50 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the firm posted $1.83 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Analysts expect that Consolidated Edison, Inc. will post 5.32 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be given a $0.83 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.40%. Consolidated Edison’s payout ratio is 63.72%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ED shares. Wells Fargo & Company boosted their target price on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Barclays lowered Consolidated Edison from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $97.00 to $92.00 in a research report on Monday, July 22nd. UBS Group upped their price target on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Morgan Stanley dropped their price target on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Finally, Mizuho upped their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.04.

Consolidated Edison 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.