SeaCrest Wealth Management LLC Cuts Holdings in Consolidated Edison, Inc. (NYSE:ED)

SeaCrest Wealth Management LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,409 shares of the utilities provider’s stock after selling 741 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Consolidated Edison were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ED. Geode Capital Management LLC increased its stake in Consolidated Edison by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock valued at $761,387,000 after purchasing an additional 154,945 shares in the last quarter. Legal & General Group Plc lifted its holdings in Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares in the last quarter. Northern Trust Corp raised its position in shares of Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after buying an additional 340,239 shares during the last quarter. Morgan Stanley raised its position in shares of Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after buying an additional 72,915 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in shares of Consolidated Edison by 89,231.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after buying an additional 4,141,220 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.8 %

Consolidated Edison stock traded up $0.76 during trading hours on Friday, reaching $90.81. The stock had a trading volume of 1,785,835 shares, compared to its average volume of 1,679,056. The company has a market cap of $31.38 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 8.49 and a beta of 0.35. 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 business’s 50 day moving average price is $88.94 and its 200-day moving average price is $89.54. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company’s revenue for the quarter 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 declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.66%. The ex-dividend date was Tuesday, February 13th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio is 46.24%.

Analyst Ratings Changes

Several brokerages recently weighed in on ED. UBS Group reduced their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Barclays boosted their price target 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. Royal Bank of Canada reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Scotiabank lifted their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, February 20th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.96.

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.