Burns J W & Co. Inc. NY Sells 400 Shares of Consolidated Edison, Inc. (NYSE:ED)

Burns J W & Co. Inc. NY decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,580 shares of the utilities provider’s stock after selling 400 shares during the period. Burns J W & Co. Inc. NY’s holdings in Consolidated Edison were worth $587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Point72 Asset Management L.P. lifted its position in shares of Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after purchasing an additional 935,962 shares during the period. Clean Energy Transition LLP grew its holdings in shares of Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after acquiring an additional 623,787 shares during the period. FMR LLC lifted its stake in shares of Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares during the period. International Assets Investment Management LLC boosted its position in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after purchasing an additional 548,204 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after purchasing an additional 482,953 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded up $0.23 during trading on Monday, hitting $88.38. The company’s stock had a trading volume of 1,857,026 shares, compared to its average volume of 2,035,227. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 3.11 and a beta of 0.38. The company has a 50-day moving average of $94.15 and a 200-day moving average of $97.91. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

Analysts Set New Price Targets

ED has been the topic of a number of recent research reports. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Morgan Stanley dropped their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Barclays reduced their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.64.

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.