Central Pacific Bank Trust Division Sells 460 Shares of Consolidated Edison, Inc. (NYSE:ED)

Central Pacific Bank Trust Division lessened its stake in Consolidated Edison, Inc. (NYSE:ED) by 41.4% during the third quarter, HoldingsChannel reports. The firm owned 650 shares of the utilities provider’s stock after selling 460 shares during the period. Central Pacific Bank Trust Division’s holdings in Consolidated Edison were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of ED. Massmutual Trust Co. FSB ADV raised its holdings 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 valued at $1,977,000 after acquiring an additional 20,934 shares during the period. Tower Research Capital LLC TRC grew its position in shares of 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 valued at $4,318,000 after purchasing an additional 12,307 shares in the last quarter. Sei Investments Co. grew its position in shares of Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after purchasing an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Consolidated Edison by 153.9% during 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 purchasing an additional 148,988 shares in the last quarter. Finally, Mizuho Markets Americas LLC grew its position in shares of Consolidated Edison by 121.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ED. Bank of America boosted their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Guggenheim upped their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $93.88.

Consolidated Edison Trading Down 0.8 %

Shares of NYSE:ED traded down $0.87 during midday trading on Friday, hitting $103.15. 952,852 shares of the stock traded hands, compared to its average volume of 1,826,538. The stock has a market capitalization of $35.67 billion, a PE ratio of 19.80, a P/E/G ratio of 3.52 and a beta of 0.36. The business’s 50 day moving average is $102.05 and its two-hundred day moving average is $95.60. 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 one year low of $82.66 and a one year high of $105.99.

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, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s payout ratio is currently 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.