GW Henssler & Associates Ltd. Sells 3,354 Shares of Consolidated Edison, Inc. (NYSE:ED)

GW Henssler & Associates Ltd. lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 57.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,455 shares of the utilities provider’s stock after selling 3,354 shares during the period. GW Henssler & Associates Ltd.’s holdings in Consolidated Edison were worth $256,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. PBMares Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $208,000. Trail Ridge Investment Advisors LLC bought a new position in shares of Consolidated Edison in the 3rd quarter valued at $215,000. Wells Trecaso Financial Group LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $213,000. abrdn plc raised its position in Consolidated Edison by 3.4% in the third quarter. abrdn plc now owns 354,995 shares of the utilities provider’s stock valued at $36,911,000 after purchasing an additional 11,721 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth approximately $234,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Bank of America raised their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Guggenheim increased their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Finally, Morgan Stanley upped their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.73.

Consolidated Edison Stock Down 1.4 %

Shares of Consolidated Edison stock traded down $1.42 during trading hours on Tuesday, reaching $103.39. The company’s stock had a trading volume of 433,322 shares, compared to its average volume of 1,823,278. The company has a market capitalization of $35.76 billion, a P/E ratio of 20.12, a P/E/G ratio of 3.57 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The stock’s fifty day simple moving average is $103.43 and its two-hundred day simple moving average is $97.37.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared 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. This represents a $3.32 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Consolidated Edison Company 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.