Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC lowered its stake in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 6.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,117 shares of the utilities provider’s stock after selling 588 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Consolidated Edison were worth $756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in Consolidated Edison by 11,130.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,246 shares of the utilities provider’s stock valued at $202,000 after acquiring an additional 2,226 shares in the last quarter. Mariner LLC raised its stake in Consolidated Edison by 24.9% during the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock valued at $7,844,000 after acquiring an additional 18,270 shares in the last quarter. PGGM Investments raised its stake in shares of Consolidated Edison by 45.5% in the 3rd quarter. PGGM Investments now owns 53,476 shares of the utilities provider’s stock worth $4,574,000 after buying an additional 16,729 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,456,379 shares of the utilities provider’s stock worth $131,657,000 after buying an additional 176,887 shares in the last quarter. Finally, Magellan Asset Management Ltd raised its stake in shares of Consolidated Edison by 7.1% in the 3rd quarter. Magellan Asset Management Ltd now owns 295,295 shares of the utilities provider’s stock worth $25,257,000 after buying an additional 19,593 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Consolidated Edison Stock Up 0.3 %

Shares of ED stock opened at $88.94 on Friday. The stock has a market cap of $30.73 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 8.44 and a beta of 0.35. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The stock has a fifty day moving average price of $89.49 and a 200 day moving average price of $89.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison (NYSE:EDGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. Analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th were paid a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.73%. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ED shares. Royal Bank of Canada decreased their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. UBS Group lowered their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Morgan Stanley lifted their price target on Consolidated Edison from $71.00 to $73.00 and gave the company an “underweight” rating in a report on Tuesday, November 21st. Finally, Scotiabank boosted their target price on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.89.

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About Consolidated Edison

(Free Report)

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.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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