Consolidated Edison, Inc. (NYSE:ED) Position Trimmed by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. lessened its position in Consolidated Edison, Inc. (NYSE:ED) by 5.6% in the 4th quarter, Holdings Channel reports. The fund owned 7,091 shares of the utilities provider’s stock after selling 424 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Consolidated Edison were worth $645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Roundview Capital LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $680,000. Dimensional Fund Advisors LP grew its stake in shares of Consolidated Edison by 22.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,030,616 shares of the utilities provider’s stock valued at $97,579,000 after acquiring an additional 190,138 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Consolidated Edison by 54.4% in the first quarter. Sei Investments Co. now owns 18,204 shares of the utilities provider’s stock worth $1,693,000 after acquiring an additional 6,412 shares during the last quarter. Cetera Investment Advisers raised its holdings in Consolidated Edison by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 19,489 shares of the utilities provider’s stock valued at $1,845,000 after buying an additional 254 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Consolidated Edison in the 1st quarter valued at approximately $214,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.5 %

Consolidated Edison stock traded up $0.41 during trading hours on Thursday, reaching $90.46. The stock had a trading volume of 201,333 shares, compared to its average volume of 1,760,496. 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. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 8.24 and a beta of 0.35. The business’s 50 day moving average price is $88.95 and its 200-day moving average price is $89.53.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping 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 analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ED shares. JPMorgan Chase & Co. lifted their price target on shares of Consolidated Edison from $84.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, November 29th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. Scotiabank increased their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. Barclays raised their target price on shares of 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, UBS Group dropped their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.96.

Consolidated Edison 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.