Private Capital Management LLC Has $214,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Private Capital Management LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 11.1% during the first quarter, Holdings Channel.com reports. The firm owned 2,360 shares of the utilities provider’s stock after selling 294 shares during the period. Private Capital Management LLC’s holdings in Consolidated Edison were worth $214,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ED. Ellsworth Advisors LLC boosted its holdings in shares of Consolidated Edison by 3.8% during the second quarter. Ellsworth Advisors LLC now owns 53,717 shares of the utilities provider’s stock worth $4,803,000 after purchasing an additional 1,944 shares during the period. Triad Wealth Partners LLC purchased a new stake in Consolidated Edison in the 2nd quarter worth approximately $111,000. Fiduciary Financial Group LLC purchased a new stake in Consolidated Edison in the 2nd quarter worth approximately $405,000. Welch Group LLC boosted its stake in shares of Consolidated Edison by 1.2% during the 2nd quarter. Welch Group LLC now owns 495,320 shares of the utilities provider’s stock valued at $44,292,000 after buying an additional 5,942 shares during the period. Finally, James J. Burns & Company LLC grew its holdings in shares of Consolidated Edison by 155.6% during the 2nd quarter. James J. Burns & Company LLC now owns 6,241 shares of the utilities provider’s stock valued at $558,000 after acquiring an additional 3,799 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent research reports. Mizuho increased their price objective on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Morgan Stanley lowered their price target on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Bank of America raised their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $91.81.

Consolidated Edison Stock Performance

Shares of NYSE ED traded up $0.87 during trading hours on Friday, hitting $100.10. 1,684,215 shares of the stock were exchanged, compared to its average volume of 1,887,954. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99. The company’s 50 day moving average is $93.92 and its 200 day moving average is $92.20. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The firm has a market capitalization of $34.62 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.56 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. During the same quarter in the previous year, the business earned $0.61 EPS. On average, research analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

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.