Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Bfsg LLC

Bfsg LLC trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 506 shares of the utilities provider’s stock after selling 130 shares during the period. Bfsg LLC’s holdings in Consolidated Edison were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the third quarter worth approximately $27,000. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison during the third quarter valued at about $30,000. CGC Financial Services LLC grew its holdings in Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 213 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Consolidated Edison in the third quarter worth about $55,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $95.17 on Thursday. The company has a market capitalization of $32.97 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 3.02 and a beta of 0.39. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $91.91 and its 200-day simple moving average is $98.03.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.57%. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is 62.52%.

Analyst Ratings Changes

Several research firms have recently weighed in on ED. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Mizuho raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Barclays dropped their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.70.

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.