Rockefeller Capital Management L.P. Sells 1,585 Shares of Consolidated Edison, Inc. (NYSE:ED)

Rockefeller Capital Management L.P. lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,251 shares of the utilities provider’s stock after selling 1,585 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Consolidated Edison were worth $4,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Tidal Investments LLC raised its stake in Consolidated Edison by 5.5% during the 1st quarter. Tidal Investments LLC now owns 7,204 shares of the utilities provider’s stock valued at $654,000 after purchasing an additional 375 shares during the period. Cetera Advisors LLC increased its stake in Consolidated Edison by 74.5% in the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock worth $1,557,000 after acquiring an additional 7,324 shares during the last quarter. Simplicity Wealth LLC increased its stake in Consolidated Edison by 6.5% in the 2nd quarter. Simplicity Wealth LLC now owns 13,586 shares of the utilities provider’s stock worth $1,215,000 after acquiring an additional 827 shares during the last quarter. Csenge Advisory Group bought a new stake in Consolidated Edison in the 2nd quarter worth approximately $204,000. Finally, QRG Capital Management Inc. increased its stake in Consolidated Edison by 4.2% in the 2nd quarter. QRG Capital Management Inc. now owns 343,237 shares of the utilities provider’s stock worth $30,692,000 after acquiring an additional 13,885 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. 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. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $99.13.

Consolidated Edison Price Performance

Shares of ED stock opened at $96.61 on Thursday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 3.31 and a beta of 0.36. The stock has a fifty day simple moving average of $101.40 and a two-hundred day simple moving average of $98.22. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share 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 business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. On average, analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is 62.52%.

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.