IHT Wealth Management LLC Reduces Position in Consolidated Edison, Inc. (NYSE:ED)

IHT Wealth Management LLC cut its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 40.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,759 shares of the utilities provider's stock after selling 5,233 shares during the period. IHT Wealth Management LLC's holdings in Consolidated Edison were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp increased its holdings in shares of Consolidated Edison by 4.1% in the fourth quarter. Stifel Financial Corp now owns 116,515 shares of the utilities provider's stock valued at $10,397,000 after purchasing an additional 4,625 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Consolidated Edison by 1.9% during the 4th quarter. MetLife Investment Management LLC now owns 91,684 shares of the utilities provider's stock worth $8,181,000 after acquiring an additional 1,752 shares during the period. Norinchukin Bank The boosted its position in shares of Consolidated Edison by 12.7% during the 4th quarter. Norinchukin Bank The now owns 16,670 shares of the utilities provider's stock valued at $1,487,000 after acquiring an additional 1,875 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Consolidated Edison by 146.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,227 shares of the utilities provider's stock valued at $1,269,000 after purchasing an additional 8,445 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Consolidated Edison by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,463 shares of the utilities provider's stock worth $117,288,000 after purchasing an additional 38,630 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Barclays increased their price objective on Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 22nd. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Citigroup boosted their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $103.60.

Consolidated Edison Stock Down 0.1 %

ED traded down $0.06 during trading hours on Wednesday, hitting $112.07. 415,056 shares of the company's stock were exchanged, compared to its average volume of 2,204,782. The firm has a market cap of $40.37 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average of $107.07 and a 200 day moving average of $99.66.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's payout ratio is presently 64.89%.

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.