SG Americas Securities LLC Lowers Holdings in Consolidated Edison, Inc. (NYSE:ED)

SG Americas Securities LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 92.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,735 shares of the utilities provider’s stock after selling 101,142 shares during the quarter. SG Americas Securities LLC’s holdings in Consolidated Edison were worth $805,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Beacon Capital Management LLC raised its stake in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Consolidated Edison in the fourth quarter worth $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison in the first quarter worth $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison in the second quarter worth $33,000. Finally, Quarry LP purchased a new position in shares of Consolidated Edison in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ED shares. UBS Group boosted their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Scotiabank boosted their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Bank of America lifted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group started coverage on Consolidated Edison in a report on Wednesday. They issued a “hold” rating and a $108.00 price objective for the company. Finally, Barclays lifted their price objective on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.96.

Consolidated Edison Stock Performance

NYSE:ED opened at $102.32 on Friday. The stock has a 50-day simple moving average of $102.35 and a two-hundred day simple moving average of $96.12. Consolidated Edison, Inc. has a 52-week low of $85.15 and a 52-week high of $105.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market capitalization of $35.39 billion, a PE ratio of 19.64, a P/E/G ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results 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 return on equity of 8.67% and a net margin of 12.03%. 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 company posted $0.61 earnings per share. Analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were given 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 3.24%. Consolidated Edison’s payout ratio is 63.72%.

Consolidated Edison Company 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.