Excalibur Management Corp Sells 299 Shares of Consolidated Edison, Inc. (NYSE:ED)

Excalibur Management Corp reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,545 shares of the utilities provider’s stock after selling 299 shares during the period. Excalibur Management Corp’s holdings in Consolidated Edison were worth $1,209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $27,000. Fairway Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter worth $36,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison during the fourth quarter valued at about $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $44,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Mizuho raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group raised their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven 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, Consolidated Edison has an average rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Price Performance

NYSE ED opened at $105.60 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market capitalization of $36.62 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 3.05 and a beta of 0.30. The stock has a 50-day moving average of $98.60 and a 200 day moving average of $98.40. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $109.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.22%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

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.