Private Advisor Group LLC Sells 1,107 Shares of Consolidated Edison, Inc. (NYSE:ED)

Private Advisor Group LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,628 shares of the utilities provider’s stock after selling 1,107 shares during the period. Private Advisor Group LLC’s holdings in Consolidated Edison were worth $4,348,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ED. Marino Stram & Associates LLC lifted its position in Consolidated Edison by 0.6% during the 1st quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 108 shares in the last quarter. Syon Capital LLC lifted its position in shares of Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 136 shares in the last quarter. G&S Capital LLC grew its stake in shares of Consolidated Edison by 1.6% during the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after purchasing an additional 139 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Consolidated Edison by 2.6% during the second 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 during the last quarter. Finally, Center For Asset Management LLC increased its holdings in shares of Consolidated Edison by 3.5% in the second 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. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ED. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group upped their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays raised their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank lifted their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.65.

Consolidated Edison Stock Performance

ED stock opened at $104.97 on Wednesday. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $105.99. 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 firm has a market cap of $36.34 billion, a PE ratio of 20.15, a P/E/G ratio of 3.49 and a beta of 0.36. The business’s 50-day moving average price is $97.83 and its two-hundred day moving average price is $93.79.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 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.