Aaron Wealth Advisors LLC Sells 302 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aaron Wealth Advisors LLC reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,152 shares of the utilities provider’s stock after selling 302 shares during the period. Aaron Wealth Advisors LLC’s holdings in Consolidated Edison were worth $560,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Financial Connections Group Inc. bought a new position in shares of Consolidated Edison in the fourth quarter worth $102,000. Soltis Investment Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter valued at $213,000. Harbour Trust & Investment Management Co bought a new stake in Consolidated Edison during the fourth quarter valued at $438,000. Sequoia Financial Advisors LLC boosted its stake in Consolidated Edison by 84.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,904 shares of the utilities provider’s stock valued at $901,000 after buying an additional 4,548 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Consolidated Edison by 69.0% during the fourth quarter. Baillie Gifford & Co. now owns 11,628 shares of the utilities provider’s stock valued at $1,058,000 after buying an additional 4,748 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 0.1 %

ED opened at $88.81 on Thursday. The company has a market cap of $30.68 billion, a P/E ratio of 12.38, a P/E/G ratio of 8.54 and a beta of 0.35. The business’s 50-day moving average price is $89.04 and its 200-day moving average price is $89.48. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92.

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. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were paid a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a dividend yield of 3.74%. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ED shares. Barclays lifted their price objective on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Royal Bank of Canada dropped their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Scotiabank raised their price target on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research report on Tuesday, February 20th. Finally, LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target on the stock. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.