Courier Capital LLC lowered its position in Consolidated Edison, Inc. (NYSE:ED – Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,503 shares of the utilities provider’s stock after selling 499 shares during the period. Courier Capital LLC’s holdings in Consolidated Edison were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in ED. Excalibur Management Corp lifted its position in shares of Consolidated Edison by 0.8% during the 1st quarter. Excalibur Management Corp now owns 12,709 shares of the utilities provider’s stock valued at $1,216,000 after acquiring an additional 105 shares during the period. IHT Wealth Management LLC lifted its position in shares of Consolidated Edison by 1.4% during the 4th quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 110 shares during the period. Lido Advisors LLC lifted its position in shares of Consolidated Edison by 0.3% during the 1st quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock valued at $4,198,000 after acquiring an additional 113 shares during the period. Retirement Group LLC lifted its position in shares of Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 116 shares during the period. Finally, Brinker Capital Investments LLC lifted its position in shares of Consolidated Edison by 1.2% during the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock valued at $908,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on ED. Barclays began coverage on shares of Consolidated Edison in a research report on Wednesday, August 23rd. They set an “equal weight” rating and a $88.00 price target for the company. The Goldman Sachs Group began coverage on Consolidated Edison in a research report on Wednesday, June 7th. They set a “sell” rating and a $88.00 price objective for the company. Bank of America cut their price objective on Consolidated Edison from $103.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, August 16th. Mizuho cut their price objective on Consolidated Edison from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, September 5th. Finally, JPMorgan Chase & Co. cut their price objective on Consolidated Edison from $89.00 to $80.00 in a research report on Wednesday, June 7th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.79.
Consolidated Edison Stock Up 1.4 %
ED stock opened at $91.46 on Thursday. The stock has a market capitalization of $31.55 billion, a P/E ratio of 13.16, a PEG ratio of 9.02 and a beta of 0.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.95 and a current ratio of 1.02. Consolidated Edison, Inc. has a one year low of $78.10 and a one year high of $100.92. The company has a 50 day moving average price of $91.34 and a two-hundred day moving average price of $93.54.
Consolidated Edison (NYSE:ED – Get Free Report) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Consolidated Edison had a net margin of 15.84% and a return on equity of 8.27%. During the same period in the previous year, the company earned $0.64 EPS. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 4.9 EPS for the current year.
Consolidated Edison Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.81 per share. The ex-dividend date is Tuesday, August 15th. This represents a $3.24 annualized dividend and a dividend yield of 3.54%. Consolidated Edison’s dividend payout ratio is presently 46.62%.
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 3.6 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.
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