Integrated Advisors Network LLC Sells 341 Shares of Consolidated Edison, Inc. (NYSE:ED)

Integrated Advisors Network LLC lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,903 shares of the utilities provider’s stock after selling 341 shares during the period. Integrated Advisors Network LLC’s holdings in Consolidated Edison were worth $823,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of Consolidated Edison by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after buying an additional 123,654 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after purchasing an additional 11,785 shares during the period. Dimensional Fund Advisors LP boosted its stake in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after purchasing an additional 125,859 shares during the period. Clean Energy Transition LLP boosted its stake in Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after purchasing an additional 623,787 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Consolidated Edison by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock worth $65,435,000 after purchasing an additional 91,559 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.2 %

Shares of ED stock opened at $102.74 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm’s 50-day moving average is $103.54 and its 200-day moving average is $97.50. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.57 and a beta of 0.36. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter last year, the business posted $0.61 EPS. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.23%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ED shares. Morgan Stanley upped their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Bank of America increased their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $98.73.

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.