Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Holderness Investments Co.

Holderness Investments Co. trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,975 shares of the utilities provider’s stock after selling 375 shares during the quarter. Holderness Investments Co.’s holdings in Consolidated Edison were worth $265,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank acquired a new position in Consolidated Edison in the third quarter valued at approximately $227,000. Empowered Funds LLC increased its stake in Consolidated Edison by 7.6% during the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock worth $602,000 after buying an additional 409 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Consolidated Edison by 11.8% during the third quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock worth $3,655,000 after acquiring an additional 3,716 shares during the period. Pathstone Holdings LLC raised its position in Consolidated Edison by 10.2% in the 3rd quarter. Pathstone Holdings LLC now owns 37,528 shares of the utilities provider’s stock valued at $3,908,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in Consolidated Edison by 30.6% in the third quarter. Caprock Group LLC now owns 4,426 shares of the utilities provider’s stock valued at $461,000 after acquiring an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.6 %

ED stock opened at $107.85 on Friday. The business has a fifty day simple moving average of $97.91 and a 200-day simple moving average of $98.44. The company has a market cap of $37.40 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $109.36.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Wall Street Analysts Forecast Growth

ED has been the subject of several analyst reports. Barclays upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Mizuho upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday. UBS Group upped their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.40.

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.