Consolidated Edison, Inc. (NYSE:ED) Position Reduced by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 17.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,800 shares of the utilities provider’s stock after selling 600 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Consolidated Edison were worth $250,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ED. Corient Private Wealth LLC raised its position in Consolidated Edison by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock valued at $15,958,000 after buying an additional 7,725 shares during the period. UBS Group AG increased its holdings in shares of Consolidated Edison by 14.7% in the 4th quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after purchasing an additional 62,519 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Consolidated Edison by 2,486.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock worth $1,977,000 after purchasing an additional 20,934 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Consolidated Edison by 35.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock valued at $4,318,000 after acquiring an additional 12,307 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Consolidated Edison by 57.4% in the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after purchasing an additional 89,080 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED opened at $103.41 on Thursday. The stock’s 50 day simple moving average is $99.64 and its 200-day simple moving average is $94.46. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a market cap of $35.76 billion, a PE ratio of 19.85, a P/E/G ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the prior year, the company posted $0.61 EPS. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were paid a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Analysts Set New Price Targets

ED has been the topic of several recent research reports. Guggenheim raised their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price target on Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. UBS Group increased their price objective on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.65.

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.