Atria Wealth Solutions Inc. Has $3.42 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Atria Wealth Solutions Inc. lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,329 shares of the utilities provider’s stock after selling 790 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Consolidated Edison were worth $3,420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James & Associates boosted its stake in shares of Consolidated Edison by 20.1% during the third 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 in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Consolidated Edison by 22.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,535 shares of the utilities provider’s stock valued at $1,305,000 after buying an additional 2,317 shares during the last quarter. Eastern Bank bought a new position in Consolidated Edison in the 3rd quarter valued at approximately $435,000. Greenleaf Trust boosted its position in Consolidated Edison by 17.5% during the 3rd quarter. Greenleaf Trust now owns 8,147 shares of the utilities provider’s stock worth $848,000 after buying an additional 1,215 shares during the period. Finally, Lake Street Private Wealth LLC bought a new stake in Consolidated Edison during the 3rd quarter worth approximately $215,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $95.77 on Friday. 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 firm’s 50-day simple moving average is $91.98 and its 200 day simple moving average is $98.02. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays decreased their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.70.

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.