Consolidated Edison, Inc. (NYSE:ED) Position Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 401,335 shares of the utilities provider’s stock after selling 6,473 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Consolidated Edison worth $36,504,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its stake in Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $31,000. CVA Family Office LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $32,000. Finally, Venturi Wealth Management LLC grew its position in shares of Consolidated Edison by 62.2% during the third quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective for the company. Scotiabank reduced their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada reduced 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. Finally, Barclays upped their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $87.54.

Consolidated Edison Price Performance

NYSE ED opened at $94.40 on Wednesday. The stock’s 50-day moving average price is $89.79 and its two-hundred day moving average price is $90.01. 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 company has a market cap of $32.62 billion, a PE ratio of 13.15, a PEG ratio of 8.75 and a beta of 0.35. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.44.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. On average, analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.52%. Consolidated Edison’s dividend payout ratio is 46.24%.

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.