PFG Investments LLC Sells 1,268 Shares of Consolidated Edison, Inc. (NYSE:ED)

PFG Investments LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,104 shares of the utilities provider’s stock after selling 1,268 shares during the quarter. PFG Investments LLC’s holdings in Consolidated Edison were worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ED. Roundview Capital LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $680,000. Dimensional Fund Advisors LP grew its position in Consolidated Edison by 22.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,030,616 shares of the utilities provider’s stock valued at $97,579,000 after purchasing an additional 190,138 shares during the period. Sei Investments Co. grew its position in Consolidated Edison by 54.4% in the 1st quarter. Sei Investments Co. now owns 18,204 shares of the utilities provider’s stock valued at $1,693,000 after purchasing an additional 6,412 shares during the period. Cetera Investment Advisers grew its holdings in shares of Consolidated Edison by 1.3% during the first quarter. Cetera Investment Advisers now owns 19,489 shares of the utilities provider’s stock worth $1,845,000 after purchasing an additional 254 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Consolidated Edison in the first quarter worth approximately $214,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ED. JPMorgan Chase & Co. upped their target price on Consolidated Edison from $84.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 29th. Royal Bank of Canada lowered their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective for the company. Finally, Scotiabank boosted their price objective on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research report on Tuesday, February 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.96.

Consolidated Edison Stock Down 1.1 %

ED traded down $1.01 during trading on Tuesday, reaching $87.49. The stock had a trading volume of 1,411,958 shares, compared to its average volume of 1,784,672. The stock’s 50 day moving average is $89.03 and its two-hundred day moving average is $89.55. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $30.23 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 8.35 and a beta of 0.35. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, analysts expect that Consolidated Edison, Inc. will post 5.3 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 15th. Stockholders of record on Wednesday, February 14th were paid a $0.83 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is currently 46.24%.

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.