Consolidated Edison, Inc. (NYSE:ED) Holdings Decreased by Cetera Investment Advisers

Cetera Investment Advisers decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,275 shares of the utilities provider's stock after selling 5,581 shares during the quarter. Cetera Investment Advisers' holdings in Consolidated Edison were worth $7,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Consolidated Edison in the fourth quarter valued at about $399,824,000. ExodusPoint Capital Management LP grew its stake in Consolidated Edison by 412.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after purchasing an additional 879,866 shares in the last quarter. Invesco Ltd. grew its stake in Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after purchasing an additional 812,885 shares in the last quarter. Marshall Wace LLP grew its stake in Consolidated Edison by 232.3% in the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock valued at $93,989,000 after purchasing an additional 736,348 shares in the last quarter. Finally, Burkehill Global Management LP purchased a new position in Consolidated Edison in the fourth quarter valued at about $53,538,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Finally, Guggenheim upped their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $105.80.

Consolidated Edison Trading Down 4.1%

Shares of ED opened at $103.28 on Tuesday. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $108.63 and a 200-day simple moving average of $99.85. The stock has a market cap of $37.21 billion, a PE ratio of 19.71, a PEG ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company posted $2.15 earnings per share. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.29%. Consolidated Edison's dividend payout ratio is 62.85%.

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.

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