Global Retirement Partners LLC Reduces Position in Consolidated Edison, Inc. (NYSE:ED)

Global Retirement Partners LLC lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 26.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,131 shares of the utilities provider’s stock after selling 1,123 shares during the period. Global Retirement Partners LLC’s holdings in Consolidated Edison were worth $279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ED. International Assets Investment Management LLC boosted its stake in shares of Consolidated Edison by 10,262.1% during the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after buying an additional 548,204 shares during the last quarter. Allworth Financial LP boosted its stake in Consolidated Edison by 3.3% during the 3rd quarter. Allworth Financial LP now owns 5,021 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 161 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Consolidated Edison by 54.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,601 shares of the utilities provider’s stock worth $12,444,000 after acquiring an additional 42,339 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Consolidated Edison by 33.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 9,176 shares of the utilities provider’s stock worth $955,000 after purchasing an additional 2,278 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in shares of Consolidated Edison by 1.1% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 15,017 shares of the utilities provider’s stock worth $1,564,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.4 %

Consolidated Edison stock opened at $99.66 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company has a 50-day simple moving average of $92.26 and a 200-day simple moving average of $97.95. The firm has a market capitalization of $34.52 billion, a P/E ratio of 19.02, a P/E/G ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Ratings Changes

A number of equities analysts recently commented on ED shares. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday. Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $101.10.

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.