Nisa Investment Advisors LLC Sells 11,199 Shares of Consolidated Edison Inc (NYSE:ED)

Nisa Investment Advisors LLC trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,555 shares of the utilities provider's stock after selling 11,199 shares during the quarter. Nisa Investment Advisors LLC's holdings in Consolidated Edison were worth $13,443,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ED. Greenleaf Trust boosted its stake in shares of Consolidated Edison by 9.1% in the 1st quarter. Greenleaf Trust now owns 9,341 shares of the utilities provider's stock valued at $1,033,000 after purchasing an additional 782 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Consolidated Edison by 2.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 204,619 shares of the utilities provider's stock worth $22,064,000 after buying an additional 5,359 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in Consolidated Edison by 5.4% during the first quarter. Personal CFO Solutions LLC now owns 2,972 shares of the utilities provider's stock worth $329,000 after buying an additional 151 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Consolidated Edison by 11.1% in the first quarter. Valeo Financial Advisors LLC now owns 3,023 shares of the utilities provider's stock valued at $334,000 after purchasing an additional 302 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Consolidated Edison by 8.1% in the first quarter. Stratos Wealth Partners LTD. now owns 11,053 shares of the utilities provider's stock valued at $1,222,000 after purchasing an additional 829 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED stock traded down $0.48 during trading hours on Friday, hitting $100.59. 1,853,686 shares of the company's stock were exchanged, compared to its average volume of 2,407,192. The company has a market capitalization of $36.24 billion, a PE ratio of 18.59, a PEG ratio of 3.23 and a beta of 0.26. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The business's 50 day simple moving average is $102.73 and its 200-day simple moving average is $101.25. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

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

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison's dividend payout ratio is 62.85%.

Wall Street Analyst Weigh In

ED has been the subject of several research reports. Barclays increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Guggenheim increased their price target 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. KeyCorp downgraded shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a report on Wednesday, May 14th. Citigroup raised 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. Finally, Wells Fargo & Company raised 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $105.27.

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.