Mn Services Vermogensbeheer B.V. Sells 9,700 Shares of Consolidated Edison Inc (NYSE:ED)

Mn Services Vermogensbeheer B.V. reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,900 shares of the utilities provider's stock after selling 9,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Consolidated Edison were worth $13,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of Consolidated Edison by 6.5% in the 1st quarter. Brighton Jones LLC now owns 2,945 shares of the utilities provider's stock valued at $326,000 after purchasing an additional 179 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Consolidated Edison by 3.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 10,941 shares of the utilities provider's stock valued at $1,210,000 after purchasing an additional 393 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Consolidated Edison in the first quarter valued at about $227,000. Southland Equity Partners LLC grew its stake in Consolidated Edison by 6.4% during the first quarter. Southland Equity Partners LLC now owns 2,728 shares of the utilities provider's stock worth $302,000 after buying an additional 165 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Consolidated Edison by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock worth $27,649,000 after buying an additional 6,869 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Down 0.3%

NYSE:ED traded down $0.30 on Tuesday, reaching $101.34. The company's stock had a trading volume of 2,844,877 shares, compared to its average volume of 2,313,146. The firm has a market cap of $36.51 billion, a PE ratio of 18.48, a PEG ratio of 3.25 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The business's 50-day moving average price is $106.65 and its two-hundred day moving average price is $100.50. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same quarter last year, the business posted $2.15 earnings per share. Equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is currently 62.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ED. Morgan Stanley lowered their target price on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. KeyCorp cut shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research report on Wednesday, May 14th. Guggenheim upped their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. UBS Group lifted their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company boosted their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and an average target price of $104.27.

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.