Signaturefd LLC Reduces Position in Consolidated Edison, Inc. (NYSE:ED)

Signaturefd LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 12,146 shares of the utilities provider’s stock after selling 146 shares during the period. Signaturefd LLC’s holdings in Consolidated Edison were worth $1,265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Planning Co of New England Inc. raised its holdings in shares of Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 100 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock valued at $2,517,000 after purchasing an additional 136 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 141 shares in the last quarter. Finally, Center For Asset Management LLC raised its holdings in shares of Consolidated Edison by 3.5% in the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ED shares. UBS Group raised their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Scotiabank lifted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.73.

Consolidated Edison Stock Up 1.6 %

Shares of NYSE:ED opened at $107.40 on Thursday. The company has a market cap of $37.14 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 3.46 and a beta of 0.36. The firm’s 50-day simple moving average is $103.10 and its 200-day simple moving average is $96.98. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.46.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.61 earnings per share. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is 63.72%.

Consolidated Edison 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.