Steward Partners Investment Advisory LLC Has $1.48 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Steward Partners Investment Advisory LLC cut its position in Consolidated Edison, Inc. (NYSE:ED) by 10.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,632 shares of the utilities provider’s stock after selling 1,857 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Consolidated Edison were worth $1,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter worth $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the third quarter worth about $30,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $39,000. Finally, CGC Financial Services LLC grew its holdings in shares of Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ED. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group raised their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Finally, Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $103.73 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $35.97 billion, a PE ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. The firm has a fifty day simple moving average of $94.39 and a 200 day simple moving average of $98.01. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.28%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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 3.7 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.