Consolidated Edison, Inc. (NYSE:ED) Position Trimmed by Unigestion Holding SA

Unigestion Holding SA lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 64.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 94,325 shares of the utilities provider's stock after selling 171,017 shares during the period. Unigestion Holding SA's holdings in Consolidated Edison were worth $10,430,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC increased its stake 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 purchasing an additional 104 shares during the period. Glen Eagle Advisors LLC grew its holdings in Consolidated Edison by 6.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after buying an additional 111 shares in the last quarter. Richwood Investment Advisors LLC increased its position in Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after acquiring an additional 115 shares during the period. Penobscot Investment Management Company Inc. raised its stake in Consolidated Edison by 5.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after acquiring an additional 125 shares in the last quarter. Finally, TrinityPoint Wealth LLC boosted its position in Consolidated Edison by 1.1% during the 4th quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider's stock worth $1,017,000 after acquiring an additional 129 shares during the period. Institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ED. Wells Fargo & Company raised their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley lowered their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. Guggenheim boosted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Finally, Citigroup raised their price objective 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $104.27.

Consolidated Edison Price Performance

Consolidated Edison stock traded down $0.10 during mid-day trading on Thursday, hitting $102.11. The company's stock had a trading volume of 2,734,282 shares, compared to its average volume of 2,282,093. The stock has a market capitalization of $36.79 billion, a P/E ratio of 19.49, a P/E/G ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The stock's fifty day moving average price is $107.67 and its two-hundred day moving average price is $100.32. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

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 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 company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the firm earned $2.15 earnings per share. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 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.