Moors & Cabot Inc. lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED – Free Report) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,864 shares of the utilities provider’s stock after selling 120 shares during the quarter. Moors & Cabot Inc.’s holdings in Consolidated Edison were worth $1,886,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ED. Retirement Group LLC grew its stake in Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after buying an additional 116 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Consolidated Edison in the first quarter worth $28,000. Clear Street Markets LLC grew its position in shares of Consolidated Edison by 261.0% in the fourth quarter. Clear Street Markets LLC now owns 361 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 261 shares in the last quarter. Motco bought a new stake in shares of Consolidated Edison during the 2nd quarter valued at $36,000. Finally, Almanack Investment Partners LLC. purchased a new stake in Consolidated Edison during the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.
Consolidated Edison Trading Up 1.0 %
Shares of ED traded up $0.92 during trading hours on Thursday, hitting $91.47. The company had a trading volume of 126,151 shares, compared to its average volume of 1,915,390. The firm has a market cap of $31.58 billion, a P/E ratio of 13.41, a P/E/G ratio of 8.75 and a beta of 0.38. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $100.92. The stock’s 50 day moving average price is $88.52 and its 200 day moving average price is $91.35. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.98.
Consolidated Edison Announces Dividend
Analyst Ratings Changes
ED has been the topic of several recent analyst reports. Bank of America lowered their target price on shares of Consolidated Edison from $103.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, August 16th. Wells Fargo & Company upgraded shares of Consolidated Edison from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $96.00 to $94.00 in a research report on Tuesday, October 17th. Guggenheim dropped their target price on shares of Consolidated Edison from $85.00 to $82.00 in a research report on Monday, October 9th. Mizuho cut their price target on shares of Consolidated Edison from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, September 5th. Finally, Barclays lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $88.00.
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 3.6 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.
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