SeaCrest Wealth Management LLC Sells 318 Shares of Consolidated Edison, Inc. (NYSE:ED)

SeaCrest Wealth Management LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,755 shares of the utilities provider’s stock after selling 318 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Consolidated Edison were worth $604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Consolidated Edison by 3.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 418,244 shares of the utilities provider’s stock worth $38,897,000 after purchasing an additional 12,953 shares in the last quarter. Corient Private Wealth LLC lifted its position in Consolidated Edison by 4.6% in the 4th quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock valued at $15,958,000 after acquiring an additional 7,725 shares in the last quarter. abrdn plc lifted its position in Consolidated Edison by 30.2% in the 4th quarter. abrdn plc now owns 311,894 shares of the utilities provider’s stock valued at $28,373,000 after acquiring an additional 72,273 shares in the last quarter. UBS Group AG lifted its position in Consolidated Edison by 14.7% in the 4th quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after acquiring an additional 62,519 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Consolidated Edison by 2,486.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after buying an additional 20,934 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Mizuho upped their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Guggenheim boosted their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.19.

Consolidated Edison Trading Up 0.0 %

ED traded up $0.04 during trading on Wednesday, hitting $100.21. The company’s stock had a trading volume of 133,479 shares, compared to its average volume of 1,874,090. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $105.99. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The stock’s fifty day moving average price is $94.25 and its 200-day moving average price is $92.33. The firm has a market capitalization of $34.66 billion, a P/E ratio of 19.23, a PEG ratio of 2.56 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.03%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. Analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.32 annualized dividend and a yield of 3.31%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

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.