Valmark Advisers Inc. Sells 200 Shares of Consolidated Edison, Inc. (NYSE:ED)

Valmark Advisers Inc. cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,402 shares of the utilities provider’s stock after selling 200 shares during the period. Valmark Advisers Inc.’s holdings in Consolidated Edison were worth $214,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ED. Creative Planning lifted its stake in Consolidated Edison by 7.9% during the 3rd quarter. Creative Planning now owns 98,928 shares of the utilities provider’s stock valued at $10,301,000 after acquiring an additional 7,269 shares in the last quarter. Blue Trust Inc. increased its position in shares of Consolidated Edison by 70.8% during the 3rd quarter. Blue Trust Inc. now owns 4,695 shares of the utilities provider’s stock valued at $489,000 after purchasing an additional 1,946 shares during the last quarter. Raymond James & Associates increased its position in shares of Consolidated Edison by 20.1% during the 3rd quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider’s stock valued at $19,800,000 after purchasing an additional 31,761 shares during the last quarter. Venture Visionary Partners LLC increased its position in shares of Consolidated Edison by 9.9% during the 3rd quarter. Venture Visionary Partners LLC now owns 5,618 shares of the utilities provider’s stock valued at $585,000 after purchasing an additional 504 shares during the last quarter. Finally, Ledyard National Bank increased its position in shares of Consolidated Edison by 10.5% during the 3rd quarter. Ledyard National Bank now owns 6,605 shares of the utilities provider’s stock valued at $688,000 after purchasing an additional 630 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays decreased 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. Finally, Morgan Stanley decreased their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $100.70.

Consolidated Edison Stock Up 0.8 %

ED stock opened at $95.70 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $33.15 billion, a PE ratio of 18.02, a PEG ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a 50-day simple moving average of $91.84 and a two-hundred day simple moving average of $98.10.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 64.03%.

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.