Consolidated Edison, Inc. (NYSE:ED) Holdings Reduced by Diversify Advisory Services LLC

Diversify Advisory Services LLC lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 44.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,833 shares of the utilities provider’s stock after selling 2,303 shares during the quarter. Diversify Advisory Services LLC’s holdings in Consolidated Edison were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at $30,000. Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison during the third quarter valued at about $55,000. FSA Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter worth about $55,000. Finally, Webster Bank N. A. grew its position in Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after buying an additional 379 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED stock opened at $90.75 on Friday. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The firm has a 50-day moving average of $93.08 and a two-hundred day moving average of $97.98. The firm has a market capitalization of $31.44 billion, a PE ratio of 17.09, a P/E/G ratio of 2.97 and a beta of 0.38. 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 issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. On average, analysts forecast that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.75%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 62.52%.

Analysts Set New Price Targets

A number of analysts have commented on ED shares. Barclays dropped their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.64.

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.