Desjardins Global Asset Management Inc. Lowers Holdings in Consolidated Edison, Inc. (NYSE:ED)

Desjardins Global Asset Management Inc. decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 23.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,054 shares of the utilities provider’s stock after selling 1,865 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Consolidated Edison were worth $551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. IHT Wealth Management LLC lifted its stake in shares of Consolidated Edison by 1.4% in the 4th quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after purchasing an additional 110 shares in the last quarter. Lido Advisors LLC lifted its stake in shares of Consolidated Edison by 0.3% in the 1st quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock valued at $4,198,000 after purchasing an additional 113 shares in the last quarter. Retirement Group LLC lifted its stake in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares in the last quarter. Brinker Capital Investments LLC lifted its stake in shares of Consolidated Edison by 1.2% in the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock valued at $908,000 after purchasing an additional 117 shares in the last quarter. Finally, MGO One Seven LLC lifted its position in Consolidated Edison by 2.1% during the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ED shares. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research 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 price target for the company. UBS Group lowered their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Royal Bank of Canada reduced their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Finally, Barclays boosted their price target 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. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $87.96.

Consolidated Edison Stock Up 3.3 %

NYSE:ED opened at $90.33 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92. The business’s fifty day moving average price is $88.87 and its 200 day moving average price is $89.54. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 8.24 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

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.