Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Eads & Heald Wealth Management

Eads & Heald Wealth Management lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,020 shares of the utilities provider’s stock after selling 1,404 shares during the period. Eads & Heald Wealth Management’s holdings in Consolidated Edison were worth $639,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its holdings in Consolidated Edison by 89,231.2% in the fourth 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. Norges Bank acquired a new position in Consolidated Edison in the fourth quarter worth $318,245,000. Morgan Stanley boosted its holdings in Consolidated Edison by 33.3% in the fourth 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. Newport Trust Company LLC acquired a new position in Consolidated Edison in the third quarter worth $51,134,000. Finally, International Assets Investment Management LLC boosted its holdings in Consolidated Edison by 9,063.6% in the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock worth $47,216,000 after purchasing an additional 513,364 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research reports. UBS Group decreased their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price on the stock. Barclays upped their target price on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada cut their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.96.

Consolidated Edison Price Performance

Shares of ED stock traded down $1.61 during trading hours on Tuesday, hitting $87.71. 287,456 shares of the company’s stock were exchanged, compared to its average volume of 1,746,173. The stock’s 50-day moving average is $88.90 and its 200-day moving average is $89.52. The stock has a market cap of $30.30 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 8.36 and a beta of 0.35. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio (DPR) is currently 46.24%.

Consolidated Edison Company 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.