Consolidated Edison, Inc. (NYSE:ED) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.9% in the third quarter, Holdings Channel.com reports. The fund owned 10,695 shares of the utilities provider’s stock after selling 319 shares during the quarter. EP Wealth Advisors LLC’s holdings in Consolidated Edison were worth $1,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ED. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison in the third quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison in the second quarter valued at $33,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at $55,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at $55,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group initiated coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Barclays cut their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.13.

Consolidated Edison Trading Down 0.1 %

Consolidated Edison stock opened at $94.70 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.18 and a beta of 0.36. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company’s fifty day moving average price is $100.90 and its two-hundred day moving average price is $98.23.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, analysts forecast that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

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.