Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Vise Technologies Inc.

Vise Technologies Inc. reduced its position in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,584 shares of the utilities provider’s stock after selling 815 shares during the period. Vise Technologies Inc.’s holdings in Consolidated Edison were worth $417,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ED. Financial Gravity Asset Management Inc. raised its position in shares of Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares in 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 acquired a new stake in shares of Consolidated Edison in the 4th quarter worth about $31,000. CVA Family Office LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $32,000. Finally, Venturi Wealth Management LLC grew its position in Consolidated Edison by 62.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED traded up $0.27 on Wednesday, hitting $96.91. 1,749,069 shares of the stock were exchanged, compared to its average volume of 1,891,407. The business’s fifty day moving average is $91.60 and its 200 day moving average is $90.62. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The company has a market capitalization of $33.51 billion, a PE ratio of 18.62, a P/E/G ratio of 9.19 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92.

Consolidated Edison (NYSE:EDGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. Consolidated Edison’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.83 earnings per share. Research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.43%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is 63.72%.

Wall Street Analyst Weigh In

ED has been the subject of several analyst reports. UBS Group reduced their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Barclays raised their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Scotiabank cut their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company raised their price objective on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, 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 research note on Friday, February 16th. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $88.46.

Read Our Latest Report on Consolidated Edison

Consolidated Edison Profile

(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.

See Also

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

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