Rosenberg Matthew Hamilton Decreases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Rosenberg Matthew Hamilton cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,649 shares of the utilities provider’s stock after selling 166 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Consolidated Edison were worth $147,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ED. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Consolidated Edison by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 100 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Consolidated Edison by 4.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after acquiring an additional 104 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after acquiring an additional 124 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after acquiring an additional 130 shares during the period. Finally, Brookstone Capital Management grew its stake in shares of Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after acquiring an additional 136 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $89.28 on Wednesday. The stock has a market cap of $30.93 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The firm has a fifty day moving average price of $93.72 and a 200-day moving average price of $97.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

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, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ED. Barclays dropped their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. UBS Group increased their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Citigroup upgraded shares of 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 research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $100.64.

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.