Ingalls & Snyder LLC Sells 190 Shares of Consolidated Edison, Inc. (NYSE:ED)

Ingalls & Snyder LLC cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,376 shares of the utilities provider’s stock after selling 190 shares during the period. Ingalls & Snyder LLC’s holdings in Consolidated Edison were worth $1,763,000 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 business. Retirement Group LLC grew its holdings in Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Financial Gravity Asset Management Inc. grew its holdings in Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Level Financial Advisors Inc. bought a new position in Consolidated Edison during the 3rd quarter valued at about $26,000. Tyler Stone Wealth Management purchased a new stake in Consolidated Edison in the 2nd quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at about $29,000. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ED has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Barclays boosted their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Scotiabank boosted their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research report on Tuesday, February 20th. UBS Group lowered their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $87.96.

Consolidated Edison Stock Up 0.1 %

Shares of NYSE ED traded up $0.08 during trading hours on Friday, hitting $88.63. 1,395,978 shares of the stock were exchanged, compared to its average volume of 1,557,902. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market cap of $30.62 billion, a PE ratio of 12.34, a PEG ratio of 8.35 and a beta of 0.35. The firm has a fifty day moving average price of $88.91 and a 200-day moving average price of $89.46. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. 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 business posted $0.81 EPS. Consolidated Edison’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, sell-side analysts expect 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. Stockholders of record on Wednesday, February 14th were paid a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.75%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio is presently 46.24%.

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.