Lifeworks Advisors LLC Has $440,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Lifeworks Advisors LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,932 shares of the utilities provider’s stock after selling 1,159 shares during the quarter. Lifeworks Advisors LLC’s holdings in Consolidated Edison were worth $440,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Graypoint LLC grew its holdings in shares of Consolidated Edison by 10.5% during the third quarter. Graypoint LLC now owns 2,666 shares of the utilities provider’s stock valued at $278,000 after buying an additional 253 shares in the last quarter. Principal Financial Group Inc. grew its stake in Consolidated Edison by 5.1% during the 3rd quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock valued at $49,745,000 after acquiring an additional 23,024 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at about $27,000. CWA Asset Management Group LLC purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $564,000. Finally, SpiderRock Advisors LLC boosted its holdings in shares of Consolidated Edison by 18.2% during the third quarter. SpiderRock Advisors LLC now owns 6,690 shares of the utilities provider’s stock worth $697,000 after purchasing an additional 1,029 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $103.73 on Friday. The business’s 50-day simple moving average is $94.39 and its 200-day simple moving average is $98.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $107.75. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 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. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. Consolidated Edison’s payout ratio is currently 64.89%.

Analysts Set New Price Targets

Several research analysts have weighed in on ED shares. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Morgan Stanley cut their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. UBS Group boosted their target price on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Evercore ISI downgraded 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 assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.