Cresset Asset Management LLC Lowers Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Cresset Asset Management LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,601 shares of the utilities provider's stock after selling 16,745 shares during the quarter. Cresset Asset Management LLC's holdings in Consolidated Edison were worth $6,835,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ED. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $36,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the fourth quarter worth about $35,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Consolidated Edison in the 4th quarter valued at about $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.1 %

NYSE:ED traded down $0.11 on Friday, hitting $107.64. The stock had a trading volume of 2,248,896 shares, compared to its average volume of 2,245,893. The company has a fifty day moving average price of $108.57 and a two-hundred day moving average price of $99.90. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $38.78 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.05 and a beta of 0.29.

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

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Mizuho upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Guggenheim increased their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $105.80.

About Consolidated Edison

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.