Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,098 shares of the utilities provider’s stock after selling 1,300 shares during the period. Boston Trust Walden Corp’s holdings in Consolidated Edison were worth $1,080,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ED. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the third quarter valued at about $27,000. AlphaMark Advisors LLC purchased a new position in Consolidated Edison in the fourth quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison during the 3rd quarter valued at approximately $30,000. CGC Financial Services LLC increased its holdings in Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 213 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at approximately $55,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ED shares. Mizuho raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Barclays lowered their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $100.00.

Consolidated Edison Stock Down 0.7 %

Shares of Consolidated Edison stock opened at $94.96 on Wednesday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a market capitalization of $32.89 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.99 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The business’s 50 day simple moving average is $92.42 and its 200-day simple moving average is $98.15.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.58%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 62.52%.

About Consolidated Edison

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.