Investors Sell Shares of Consolidated Edison (ED) on Strength (ED)

Investors sold shares of Consolidated Edison, Inc. (NYSE:ED) on strength during trading on Thursday. $21.30 million flowed into the stock on the tick-up and $52.54 million flowed out of the stock on the tick-down, for a money net flow of $31.24 million out of the stock. Of all stocks tracked, Consolidated Edison had the 0th highest net out-flow for the day. Consolidated Edison traded up $0.09 for the day and closed at $76.76

A number of research firms have recently weighed in on ED. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, January 3rd. Guggenheim reaffirmed a “hold” rating and set a $88.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. assumed coverage on shares of Consolidated Edison in a research note on Friday, January 12th. They issued an “underweight” rating and a $78.00 price objective on the stock. Finally, UBS assumed coverage on shares of Consolidated Edison in a research note on Friday, February 2nd. They issued a “neutral” rating and a $80.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $81.32.

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The company has a market capitalization of $23,826.08, a price-to-earnings ratio of 15.30, a PEG ratio of 4.50 and a beta of 0.10. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.64 billion. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. equities analysts forecast that Consolidated Edison, Inc. will post 4.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 3.78%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is 57.89%.

Large investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. purchased a new position in Consolidated Edison in the 4th quarter valued at about $119,000. Asset Dedication LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $183,000. Aevitas Wealth Management Inc. purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $186,000. Round Table Services LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $200,000. Finally, Community Bank & Trust Waco Texas purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $208,000. Institutional investors own 56.68% of the company’s stock.

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Consolidated Edison Company Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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