Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Rise Advisors LLC

Rise Advisors LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,250 shares of the utilities provider’s stock after selling 157 shares during the quarter. Rise Advisors LLC’s holdings in Consolidated Edison were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Planning Co of New England Inc. lifted its position in Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after buying an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after buying an additional 100 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of 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 valued at $243,000 after buying an additional 104 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 124 shares during the period. Finally, Townsquare Capital LLC lifted 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 worth $580,000 after acquiring an additional 130 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded down $0.09 during trading on Tuesday, reaching $88.28. 812,029 shares of the company’s stock traded hands, compared to its average volume of 1,570,493. 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 50 day moving average of $95.21 and a 200-day moving average of $97.96. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The stock has a market capitalization of $30.58 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were given a $0.83 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.76%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Barclays decreased their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. 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 research report on Thursday, December 12th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, UBS Group lifted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.64.

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.