Consolidated Edison, Inc. (NYSE:ED) Shares Sold by City Holding Co.

City Holding Co. lessened its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,173 shares of the utilities provider’s stock after selling 691 shares during the quarter. City Holding Co.’s holdings in Consolidated Edison were worth $1,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after acquiring an additional 399,034 shares during the period. Geode Capital Management LLC lifted its position in shares of Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after acquiring an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after acquiring an additional 28,254 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after purchasing an additional 125,859 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.6 %

Shares of ED stock opened at $93.74 on Monday. The company has a 50-day moving average of $93.35 and a two-hundred day moving average of $97.91. The firm has a market cap of $32.47 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.63%. Consolidated Edison’s payout ratio is 64.03%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Barclays dropped their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison 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.