Sage Mountain Advisors LLC Trims Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Sage Mountain Advisors LLC reduced its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,701 shares of the utilities provider’s stock after selling 135 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Consolidated Edison were worth $337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ED. Diversified Trust Co grew its holdings in Consolidated Edison by 140.8% during the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock valued at $3,361,000 after buying an additional 21,604 shares in the last quarter. Pacer Advisors Inc. grew its stake in Consolidated Edison by 169.9% during the fourth quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock valued at $5,487,000 after acquiring an additional 37,971 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new stake in Consolidated Edison during the 4th quarter worth approximately $1,551,000. Mariner LLC lifted its stake in Consolidated Edison by 24.9% in the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock worth $7,844,000 after purchasing an additional 18,270 shares in the last quarter. Finally, Comerica Bank bought a new position in Consolidated Edison in the 3rd quarter valued at $8,014,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.0 %

Shares of ED opened at $92.73 on Tuesday. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The firm has a market cap of $32.04 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 8.65 and a beta of 0.35. The firm has a 50 day moving average price of $89.03 and a 200-day moving average price of $89.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping 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 business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, equities research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 46.24%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ED. Royal Bank of Canada decreased 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 report on Friday, February 16th. Barclays upped their target price on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. UBS Group dropped their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price on the stock. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $87.54.

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.