Consolidated Edison, Inc. (NYSE:ED) Stock Position Cut by NTV Asset Management LLC

NTV Asset Management LLC reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,430 shares of the utilities provider’s stock after selling 166 shares during the period. NTV Asset Management LLC’s holdings in Consolidated Edison were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ED. TCG Advisory Services LLC boosted its holdings in Consolidated Edison by 10.9% during the fourth quarter. TCG Advisory Services LLC now owns 10,075 shares of the utilities provider’s stock worth $916,000 after buying an additional 993 shares in the last quarter. Forte Capital LLC ADV raised its position in shares of Consolidated Edison by 7.0% during the fourth quarter. Forte Capital LLC ADV now owns 20,328 shares of the utilities provider’s stock worth $1,849,000 after purchasing an additional 1,322 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $280,000. Summit Global Investments acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $1,540,000. Finally, Natixis Advisors L.P. lifted its stake in Consolidated Edison by 7.1% during the fourth quarter. Natixis Advisors L.P. now owns 112,374 shares of the utilities provider’s stock valued at $10,222,000 after buying an additional 7,418 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada dropped their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Barclays raised their price objective 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. Scotiabank lowered their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Finally, UBS Group dropped their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Four equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.75.

Consolidated Edison Trading Up 0.3 %

Shares of ED stock traded up $0.31 on Friday, hitting $95.56. 2,465,195 shares of the company’s stock traded hands, compared to its average volume of 2,284,421. The stock has a market capitalization of $33.02 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 8.99 and a beta of 0.34. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.44. The company’s fifty day simple moving average is $90.21 and its 200 day simple moving average is $90.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.86%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $1.83 earnings per share. Equities analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given 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 3.47%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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 3.7 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.