Sigma Planning Corp Sells 543 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sigma Planning Corp cut its stake in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,179 shares of the utilities provider’s stock after selling 543 shares during the quarter. Sigma Planning Corp’s holdings in Consolidated Edison were worth $1,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Consolidated Edison by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 7,992,887 shares of the utilities provider’s stock worth $722,372,000 after purchasing an additional 43,516 shares during the period. Legal & General Group Plc boosted its stake in Consolidated Edison by 0.9% in the 4th quarter. Legal & General Group Plc now owns 6,182,332 shares of the utilities provider’s stock worth $589,238,000 after purchasing an additional 56,681 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock worth $395,142,000 after purchasing an additional 4,141,220 shares during the period. Northern Trust Corp boosted its stake in Consolidated Edison by 1.6% in the 2nd quarter. Northern Trust Corp now owns 4,143,787 shares of the utilities provider’s stock worth $374,598,000 after purchasing an additional 64,526 shares during the period. Finally, Morgan Stanley boosted its stake in Consolidated Edison by 33.3% in the 4th quarter. Morgan Stanley now owns 4,128,579 shares of the utilities provider’s stock worth $393,495,000 after purchasing an additional 1,030,730 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com assumed coverage on Consolidated Edison in a research report on Thursday, October 5th. They set a “hold” rating for the company. LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price for the company. Guggenheim lowered their target price on Consolidated Edison from $85.00 to $82.00 in a research report on Monday, October 9th. JPMorgan Chase & Co. increased their target price on Consolidated Edison from $84.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, November 29th. Finally, Argus lowered their target price on Consolidated Edison from $104.00 to $93.00 in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $88.46.

Read Our Latest Research Report on Consolidated Edison

Consolidated Edison Stock Performance

ED stock opened at $90.68 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $91.03 and its two-hundred day simple moving average is $90.22. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 8.57 and a beta of 0.36.

Consolidated Edison (NYSE:EDGet Free Report) last released its earnings results on Thursday, November 2nd. The utilities provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion. Consolidated Edison had a return on equity of 8.16% and a net margin of 15.57%. Analysts predict that Consolidated Edison, Inc. will post 5.03 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.66%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio (DPR) is currently 48.00%.

Consolidated Edison Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:EDFree Report).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.