Consolidated Edison, Inc. (NYSE:ED) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its position in Consolidated Edison, Inc. (NYSE:ED) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,361 shares of the utilities provider’s stock after selling 156 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Consolidated Edison were worth $350,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. lifted its position in Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after buying an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Consolidated Edison by 13.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 100 shares in the last quarter. Brookstone Capital Management boosted its position in Consolidated Edison by 0.6% during the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares during the period. Checchi Capital Advisers LLC increased its holdings in Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 141 shares in the last quarter. Finally, Center For Asset Management LLC raised its position in Consolidated Edison by 3.5% in the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 2.2 %

Shares of ED opened at $104.60 on Monday. The business’s 50-day moving average price is $103.35 and its 200 day moving average price is $97.25. The stock has a market capitalization of $36.17 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.57 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business posted $0.61 EPS. Analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.17%. Consolidated Edison’s dividend payout ratio is 63.72%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ED. Bank of America raised their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays boosted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Guggenheim boosted their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.73.

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.