Sage Mountain Advisors LLC Has $337,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Sage Mountain Advisors LLC cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,701 shares of the utilities provider’s stock after selling 135 shares during the period. Sage Mountain Advisors LLC’s holdings in Consolidated Edison were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in Consolidated Edison by 0.5% in the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares during the last quarter. Northern Trust Corp boosted its holdings in Consolidated Edison by 8.2% during the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after acquiring an additional 340,239 shares during the period. Morgan Stanley boosted its stake in shares of Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after purchasing an additional 72,915 shares during the period. Invesco Ltd. boosted its position in Consolidated Edison by 4.5% during the 3rd quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after buying an additional 129,519 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Consolidated Edison by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock worth $169,716,000 after purchasing an additional 26,910 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target for the company. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Scotiabank lowered their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday. Barclays raised their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, UBS Group dropped their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.54.

Consolidated Edison Trading Up 1.0 %

Shares of ED stock opened at $92.73 on Tuesday. The firm has a market capitalization of $32.04 billion, a P/E ratio of 12.92, a PEG ratio of 8.65 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The stock’s fifty day moving average is $89.03 and its two-hundred day moving average is $89.76.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. Research analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. Consolidated Edison’s dividend payout ratio (DPR) is currently 46.24%.

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.