Farther Finance Advisors LLC Has $547,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Farther Finance Advisors LLC reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,255 shares of the utilities provider’s stock after selling 679 shares during the quarter. Farther Finance Advisors LLC’s holdings in Consolidated Edison were worth $547,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its position in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after buying an additional 24,211 shares during the period. 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 worth $22,193,000 after buying an additional 89,080 shares during the period. 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 worth $22,321,000 after buying an additional 148,988 shares during the period. 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 worth $10,323,000 after buying an additional 62,260 shares during the period. Finally, Plato Investment Management Ltd grew its position in shares of Consolidated Edison by 17,683.9% during the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after buying an additional 9,903 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ED. Scotiabank boosted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Wells Fargo & Company boosted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. UBS Group boosted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.73.

Consolidated Edison Trading Down 0.9 %

Shares of Consolidated Edison stock opened at $98.96 on Thursday. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The stock has a market cap of $34.26 billion, a P/E ratio of 19.25, a P/E/G ratio of 3.37 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $103.48 and its 200-day moving average is $97.85.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 64.59%.

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.