St. Johns Investment Management Company LLC lessened its position in Consolidated Edison, Inc. (NYSE:ED) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,469 shares of the utilities provider’s stock after selling 172 shares during the period. St. Johns Investment Management Company LLC’s holdings in Consolidated Edison were worth $718,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ED. Financial Gravity Companies Inc. bought a new stake in Consolidated Edison during the fourth quarter valued at approximately $28,000. Sontag Advisory LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth $30,000. Orrstown Financial Services Inc. purchased a new position in shares of Consolidated Edison in the fourth quarter worth $31,000. Heritage Wealth Advisors purchased a new position in shares of Consolidated Edison in the fourth quarter worth $33,000. Finally, Larson Financial Group LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth $33,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.
ED stock traded up $0.25 during mid-day trading on Wednesday, reaching $83.87. 39,939 shares of the stock traded hands, compared to its average volume of 1,423,981. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a one year low of $71.12 and a one year high of $85.87. The stock has a market capitalization of $27.34 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 9.70 and a beta of 0.12.
Several equities analysts have recently commented on ED shares. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Wednesday, February 13th. Mizuho started coverage on shares of Consolidated Edison in a report on Monday, March 11th. They issued a “neutral” rating and a $85.00 target price on the stock. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a report on Friday, January 18th. Finally, Credit Suisse Group upped their price target on shares of Consolidated Edison from $77.00 to $78.00 and gave the company an “underperform” rating in a research note on Monday, February 25th. Five analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $77.34.
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About Consolidated Edison
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.
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