Stratos Wealth Partners LTD. Sells 10,778 Shares of Consolidated Edison Inc $ED

Stratos Wealth Partners LTD. cut its holdings in Consolidated Edison Inc (NYSE:ED) by 45.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,029 shares of the utilities provider’s stock after selling 10,778 shares during the period. Stratos Wealth Partners LTD.’s holdings in Consolidated Edison were worth $1,310,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in shares of Consolidated Edison by 13.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after acquiring an additional 100 shares in the last quarter. Certuity LLC lifted its holdings in Consolidated Edison by 2.7% in the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 100 shares during the last quarter. Stephens Inc. AR boosted its position in Consolidated Edison by 0.8% during the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock worth $1,386,000 after purchasing an additional 105 shares during the period. HighPoint Advisor Group LLC grew its holdings in Consolidated Edison by 0.7% during the third quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock valued at $1,489,000 after purchasing an additional 110 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Consolidated Edison by 3.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,613 shares of the utilities provider’s stock valued at $363,000 after purchasing an additional 111 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the sale, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Consolidated Edison Stock Up 1.7%

ED stock opened at $113.59 on Monday. Consolidated Edison Inc has a twelve month low of $94.50 and a twelve month high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The company has a market cap of $41.00 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38. The business’s 50-day simple moving average is $102.16 and its 200 day simple moving average is $100.59.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $96.00 price objective on shares of Consolidated Edison in a report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $118.00 price objective on shares of Consolidated Edison in a research note on Friday, January 23rd. UBS Group increased their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Barclays lowered their target price on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $104.20.

Consolidated Edison Profile

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.