Diversified Trust Co Has $3.79 Million Stock Position in Consolidated Edison Inc (NYSE:ED)

Diversified Trust Co lowered its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 22.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,227 shares of the utilities provider's stock after selling 10,090 shares during the quarter. Diversified Trust Co's holdings in Consolidated Edison were worth $3,785,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Alpine Bank Wealth Management bought a new position in shares of Consolidated Edison in the first quarter valued at $32,000. Fairway Wealth LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $36,000. Wood Tarver Financial Group LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. Finally, Garde Capital Inc. acquired a new stake in Consolidated Edison in the 1st quarter valued at about $49,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ED shares. 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 report on Friday, May 2nd. UBS Group lifted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Citigroup raised their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Finally, Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $104.18.

Consolidated Edison Stock Performance

Shares of ED traded down $0.28 during midday trading on Friday, reaching $98.13. 2,880,053 shares of the stock were exchanged, compared to its average volume of 2,368,610. The stock's 50 day simple moving average is $105.13 and its 200 day simple moving average is $100.65. The company has a market cap of $35.36 billion, a P/E ratio of 18.14, a PEG ratio of 3.13 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04.

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 for the quarter, missing the consensus estimate 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 return on equity of 8.61% and a net margin of 11.98%. During the same quarter last year, the firm earned $2.15 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.46%. Consolidated Edison's payout ratio is 62.85%.

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.