Wealth Enhancement Advisory Services LLC Lowers Position in Consolidated Edison, Inc. (NYSE:ED)

Wealth Enhancement Advisory Services LLC cut its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,145 shares of the utilities provider's stock after selling 20,266 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.07% of Consolidated Edison worth $21,696,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Jacobi Capital Management LLC grew its holdings in shares of Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after acquiring an additional 104 shares in the last quarter. Glen Eagle Advisors LLC grew its holdings in Consolidated Edison by 6.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after purchasing an additional 111 shares during the period. Richwood Investment Advisors LLC grew its holdings in Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in Consolidated Edison by 5.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after purchasing an additional 125 shares during the period. Finally, TrinityPoint Wealth LLC grew its holdings in Consolidated Edison by 1.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider's stock valued at $1,017,000 after purchasing an additional 129 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded down $0.55 during trading on Tuesday, hitting $103.31. 2,316,643 shares of the company were exchanged, compared to its average volume of 2,286,686. The company has a market cap of $37.22 billion, a PE ratio of 19.72, a P/E/G ratio of 3.05 and a beta of 0.29. The stock has a 50 day moving average of $107.80 and a 200 day moving average of $100.31. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter last year, the business posted $2.15 EPS. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

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 $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.29%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

Analyst Ratings Changes

Several brokerages have weighed in on ED. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a report on Wednesday, May 14th. Barclays increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Scotiabank increased 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. Finally, Wells Fargo & Company increased their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $104.27.

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.