Forte Capital LLC ADV lessened its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 12.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,566 shares of the utilities provider's stock after selling 2,821 shares during the quarter. Forte Capital LLC ADV's holdings in Consolidated Edison were worth $2,164,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in ED. Alpine Bank Wealth Management purchased a new position in Consolidated Edison in the 1st quarter worth $32,000. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison in the 1st quarter worth $33,000. Wood Tarver Financial Group LLC bought a new stake in Consolidated Edison in the 4th quarter worth $35,000. Elite Financial Inc. bought a new stake in Consolidated Edison in the 1st quarter worth $38,000. Finally, Park Square Financial Group LLC bought a new stake in Consolidated Edison in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 66.29% of the company's stock.
Consolidated Edison Stock Performance
Shares of ED traded up $0.42 during mid-day trading on Friday, hitting $101.02. 1,813,453 shares of the company traded hands, compared to its average volume of 2,408,250. 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 stock has a 50-day moving average price of $101.81 and a two-hundred day moving average price of $101.64. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The stock has a market cap of $36.40 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 3.21 and a beta of 0.26.
Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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 company earned $2.15 earnings per share. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.
Consolidated Edison Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.37%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Mizuho raised shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $105.00 to $107.00 in a research note on Monday, June 30th. Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley cut their target price on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $105.09.
Get Our Latest Stock Analysis on ED
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.
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