Atria Investments Inc Sells 349 Shares of Consolidated Edison, Inc. (NYSE:ED)

Atria Investments Inc cut its position in Consolidated Edison, Inc. (NYSE:ED) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,863 shares of the utilities provider’s stock after selling 349 shares during the quarter. Atria Investments Inc’s holdings in Consolidated Edison were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake in Consolidated Edison by 1.5% in the 4th quarter. Assetmark Inc. now owns 604,376 shares of the utilities provider’s stock worth $53,929,000 after purchasing an additional 8,818 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Consolidated Edison by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 668,076 shares of the utilities provider’s stock valued at $59,612,000 after buying an additional 152,843 shares during the period. Keybank National Association OH grew its position in Consolidated Edison by 2.4% during the fourth quarter. Keybank National Association OH now owns 9,117 shares of the utilities provider’s stock worth $814,000 after buying an additional 213 shares in the last quarter. SWS Partners increased its stake in Consolidated Edison by 11.7% during the 4th quarter. SWS Partners now owns 20,563 shares of the utilities provider’s stock worth $1,835,000 after acquiring an additional 2,150 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of Consolidated Edison by 198.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 21,424 shares of the utilities provider’s stock valued at $1,911,000 after acquiring an additional 14,234 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Scotiabank increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Finally, UBS Group upped their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned 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 price target of $101.50.

Consolidated Edison Stock Performance

NYSE:ED opened at $106.60 on Monday. The stock’s 50-day moving average is $95.96 and its 200-day moving average is $98.17. The stock has a market cap of $36.97 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.97. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.19%. Consolidated Edison’s payout ratio is presently 64.89%.

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.