Sentry Investment Management LLC Has $165,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Sentry Investment Management LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,809 shares of the utilities provider’s stock after selling 194 shares during the period. Sentry Investment Management LLC’s holdings in Consolidated Edison were worth $165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its holdings in Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after acquiring an additional 4,141,220 shares during the period. Norges Bank acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $318,245,000. Morgan Stanley boosted its position in shares of Consolidated Edison by 33.3% in the fourth quarter. Morgan Stanley now owns 4,128,579 shares of the utilities provider’s stock valued at $393,495,000 after acquiring an additional 1,030,730 shares during the period. Newport Trust Company LLC acquired a new position in shares of Consolidated Edison in the third quarter valued at about $51,134,000. Finally, International Assets Investment Management LLC grew its stake in shares of Consolidated Edison by 9,063.6% in the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock valued at $47,216,000 after acquiring an additional 513,364 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 3.3 %

Shares of Consolidated Edison stock opened at $90.33 on Thursday. The firm has a market capitalization of $31.21 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 8.42 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $88.87 and its 200 day moving average is $89.54. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Scotiabank boosted their price target 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. Barclays increased their price target on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price on the stock. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.96.

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.