Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC trimmed its stake in Consolidated Edison, Inc. (NYSE:ED) by 18.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,136 shares of the utilities provider’s stock after selling 1,191 shares during the period. Diversify Advisory Services LLC’s holdings in Consolidated Edison were worth $543,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC raised its stake in shares of Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after acquiring an additional 24,211 shares during the period. Sei Investments Co. raised its stake in shares of Consolidated Edison by 57.4% in the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after acquiring an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Consolidated Edison by 153.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after acquiring an additional 148,988 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after acquiring an additional 62,260 shares during the period. Finally, Plato Investment Management Ltd raised its stake in shares of Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock valued at $904,000 after acquiring an additional 9,903 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.2 %

Shares of Consolidated Edison stock opened at $102.74 on Thursday. The company has a fifty day simple moving average of $103.54 and a 200-day simple moving average of $97.50. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. 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 $35.53 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.57 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its 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. The business 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 business posted $0.61 EPS. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 63.72%.

Wall Street Analyst Weigh In

ED has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Bank of America upped their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. 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 target price on the stock. Scotiabank upped their target price 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. Finally, UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $98.73.

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.