Private Trust Co. NA Sells 507 Shares of Consolidated Edison, Inc. (NYSE:ED)

Private Trust Co. NA cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,755 shares of the utilities provider’s stock after selling 507 shares during the quarter. Private Trust Co. NA’s holdings in Consolidated Edison were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new position in Consolidated Edison in the 1st quarter worth approximately $287,000. Tidal Investments LLC boosted its holdings in shares of Consolidated Edison by 5.5% in the first quarter. Tidal Investments LLC now owns 7,204 shares of the utilities provider’s stock worth $654,000 after acquiring an additional 375 shares during the period. Beacon Capital Management LLC raised its stake in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Plato Investment Management Ltd lifted its holdings in Consolidated Edison by 17,683.9% during the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 9,903 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in Consolidated Edison by 67.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 7,858 shares of the utilities provider’s stock worth $714,000 after purchasing an additional 3,164 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.1 %

ED stock opened at $101.58 on Thursday. The company has a market capitalization of $35.19 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. 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 one year low of $85.85 and a one year high of $107.75. The company’s 50 day moving average price is $101.81 and its two-hundred day moving average price is $98.15.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. As a group, analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.27%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ED shares. UBS Group upped their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Barclays lowered their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and a consensus price target of $98.19.

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.