Wade G W & Inc. Has $2.92 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Wade G W & Inc. cut its position in Consolidated Edison, Inc. (NYSE:ED) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,122 shares of the utilities provider’s stock after selling 208 shares during the quarter. Wade G W & Inc.’s holdings in Consolidated Edison were worth $2,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its position in Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $29,000. Bruce G. Allen Investments LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $31,000. CVA Family Office LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $32,000. Finally, Venturi Wealth Management LLC increased its position in Consolidated Edison by 62.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 183 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ED. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Royal Bank of Canada reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Barclays boosted their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Scotiabank reduced their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Finally, UBS Group reduced their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Four 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.46.

Consolidated Edison Stock Down 0.1 %

ED traded down $0.06 during trading on Friday, hitting $96.85. 149,861 shares of the company’s stock were exchanged, compared to its average volume of 1,877,862. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $91.88 and its two-hundred day moving average is $90.71. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $98.85. The stock has a market cap of $33.49 billion, a P/E ratio of 18.60, a PEG ratio of 9.12 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.43%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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.