IFP Advisors Inc Sells 3,006 Shares of Consolidated Edison, Inc. (NYSE:ED)

IFP Advisors Inc lessened its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,166 shares of the utilities provider’s stock after selling 3,006 shares during the quarter. IFP Advisors Inc’s holdings in Consolidated Edison were worth $1,086,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ED. TD Private Client Wealth LLC grew its holdings in Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares during the last quarter. D.A. Davidson & CO. grew its stake in Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 124 shares during the last quarter. Townsquare Capital LLC increased its position in Consolidated Edison by 2.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after buying an additional 130 shares in the last quarter. Trust Point Inc. raised its stake in Consolidated Edison by 4.9% in the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after buying an additional 131 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in Consolidated Edison by 1.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider’s stock valued at $925,000 after buying an additional 133 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.1 %

NYSE ED opened at $100.05 on Friday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company has a market capitalization of $34.69 billion, a PE ratio of 19.09, a P/E/G ratio of 3.05 and a beta of 0.39. The company has a fifty day moving average of $92.90 and a 200 day moving average of $97.98.

Consolidated Edison (NYSE:ED) last released 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. 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. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent analyst reports. 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 report on Monday. 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 research note on Friday, November 22nd. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. Mizuho boosted their price objective 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. Finally, Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two equities research 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 company. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $101.50.

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.