Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Peoples Financial Services CORP.

Peoples Financial Services CORP. lessened its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 28.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 502 shares of the utilities provider’s stock after selling 200 shares during the period. Peoples Financial Services CORP.’s holdings in Consolidated Edison were worth $52,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of ED. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison in the second quarter worth about $33,000. Quarry LP purchased a new position in shares of Consolidated Edison during the 4th quarter worth $35,000. Finally, Versant Capital Management Inc increased its position in shares of Consolidated Edison by 380.2% during the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED traded up $0.34 during midday trading on Wednesday, hitting $105.79. The company had a trading volume of 187,549 shares, compared to its average volume of 1,812,574. The firm has a market capitalization of $36.59 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $106.41. The business has a 50-day simple moving average of $102.48 and a two-hundred day simple moving average of $96.35. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.14%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ED shares. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Morgan Stanley raised their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Barclays raised their target price on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $116.00 in a research note on Tuesday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $96.46.

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.