Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Empirical Finance LLC

Empirical Finance LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,826 shares of the utilities provider’s stock after selling 137 shares during the quarter. Empirical Finance LLC’s holdings in Consolidated Edison were worth $1,055,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Consolidated Edison by 425.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,075 shares of the utilities provider’s stock worth $424,000 after purchasing an additional 3,300 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Consolidated Edison in the third quarter worth $211,000. Exchange Traded Concepts LLC lifted its position in shares of Consolidated Edison by 36.2% in the third quarter. Exchange Traded Concepts LLC now owns 9,960 shares of the utilities provider’s stock valued at $1,037,000 after acquiring an additional 2,646 shares in the last quarter. Webster Bank N. A. boosted its stake in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 379 shares during the last quarter. Finally, Rise Advisors LLC increased its position in Consolidated Edison by 4.9% during the 3rd quarter. Rise Advisors LLC now owns 3,407 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Barclays reduced their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Finally, Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $96.64 on Tuesday. The company has a market cap of $33.48 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock’s 50-day moving average is $91.96 and its 200-day moving average is $98.18.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.52%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is 62.52%.

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.