Dean Capital Investments Management LLC trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,419 shares of the utilities provider’s stock after selling 406 shares during the period. Dean Capital Investments Management LLC’s holdings in Consolidated Edison were worth $606,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new stake in shares of Consolidated Edison during the 2nd quarter valued at approximately $25,000. FTB Advisors Inc. raised its position in shares of Consolidated Edison by 220.2% during the 2nd quarter. FTB Advisors Inc. now owns 285 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 196 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in shares of Consolidated Edison during the 2nd quarter worth approximately $26,000. 1 North Wealth Services LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $28,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $32,000. Institutional investors own 59.77% of the company’s stock.
Shares of NYSE:ED traded down $1.10 during mid-day trading on Tuesday, hitting $86.40. The stock had a trading volume of 204,078 shares, compared to its average volume of 1,610,773. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.52 and a current ratio of 0.58. The company has a market cap of $29.23 billion, a PE ratio of 20.00, a P/E/G ratio of 10.18 and a beta of 0.04. Consolidated Edison, Inc. has a 12-month low of $73.29 and a 12-month high of $94.97. The company’s 50 day moving average is $92.10 and its 200-day moving average is $88.72.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.96 annualized dividend and a dividend yield of 3.43%. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.
Several research analysts recently issued reports on ED shares. UBS Group lifted their price objective on Consolidated Edison from $96.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. ValuEngine downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group lowered their price objective on shares of Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating for the company in a research note on Tuesday, November 5th. Mizuho raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $93.00 to $98.00 in a research note on Friday, October 25th. Finally, KeyCorp boosted their price objective on shares of Consolidated Edison from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $92.51.
Consolidated Edison Profile
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.
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