Shell Asset Management Co. Has $1.72 Million Holdings in Consolidated Edison Inc $ED

Shell Asset Management Co. lessened its stake in Consolidated Edison Inc (NYSE:ED) by 52.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,084 shares of the utilities provider’s stock after selling 18,567 shares during the quarter. Shell Asset Management Co.’s holdings in Consolidated Edison were worth $1,717,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC lifted its holdings in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Empowered Funds LLC raised its holdings in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares during the last quarter. Woodline Partners LP lifted its position in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 8,468 shares during the period. Ritholtz Wealth Management boosted its holdings in Consolidated Edison by 60.8% during the second quarter. Ritholtz Wealth Management now owns 3,297 shares of the utilities provider’s stock worth $331,000 after buying an additional 1,247 shares during the last quarter. Finally, Mutual Advisors LLC grew its position in shares of Consolidated Edison by 6.1% in the 2nd quarter. Mutual Advisors LLC now owns 5,978 shares of the utilities provider’s stock valued at $611,000 after purchasing an additional 344 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.7%

Shares of NYSE ED opened at $113.59 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. Consolidated Edison Inc has a 1 year low of $94.50 and a 1 year high of $114.87. The stock has a market capitalization of $41.00 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.10 and a beta of 0.38. The company has a 50-day moving average price of $102.16 and a 200-day moving average price of $100.59.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. Consolidated Edison’s payout ratio is 59.44%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ED. TD Cowen initiated coverage on shares of Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 price objective on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Barclays lowered their price target on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Finally, UBS Group lifted their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $104.20.

Insider Buying and Selling

In related news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by insiders.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.