Consolidated Edison, Inc. (NYSE:ED) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,981,262 shares of the utilities provider’s stock after selling 19,479 shares during the quarter. ProShare Advisors LLC owned 0.57% of Consolidated Edison worth $177,164,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ED. Corient Private Wealth LLC grew its position in Consolidated Edison by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock worth $15,958,000 after purchasing an additional 7,725 shares in the last quarter. UBS Group AG grew its position in Consolidated Edison by 14.7% during the 4th quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock worth $44,437,000 after purchasing an additional 62,519 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Consolidated Edison by 2,486.2% during the 1st 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 position in 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 worth $4,318,000 after purchasing an additional 12,307 shares in the last quarter. Finally, Sei Investments Co. grew its position in Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after purchasing an additional 89,080 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Morgan Stanley lifted their target price on shares of Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Mizuho lifted their target price on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Guggenheim lifted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.42.

Consolidated Edison Stock Up 1.2 %

ED stock opened at $103.35 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The company has a fifty day simple moving average of $100.08 and a 200 day simple moving average of $94.66. The firm has a market cap of $35.74 billion, a PE ratio of 19.84, a PEG ratio of 3.50 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is 63.72%.

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.