Natixis Advisors LLC Sells 17,957 Shares of Consolidated Edison, Inc. (NYSE:ED)

Natixis Advisors LLC trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,365 shares of the utilities provider’s stock after selling 17,957 shares during the period. Natixis Advisors LLC’s holdings in Consolidated Edison were worth $13,685,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new position in Consolidated Edison during the 4th quarter worth $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison in the 4th quarter valued at $36,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison during the fourth quarter worth $44,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of a number of research reports. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays increased 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, February 24th. Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Finally, UBS Group increased their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Performance

ED stock opened at $107.53 on Thursday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $108.43. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market cap of $37.29 billion, a PE ratio of 20.52, a P/E/G ratio of 3.05 and a beta of 0.30. The business’s 50-day moving average price is $97.12 and its two-hundred day moving average price is $98.32.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping 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 company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. As a group, 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 announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.