ProShare Advisors LLC Sells 87,928 Shares of Consolidated Edison, Inc. (NYSE:ED)

ProShare Advisors LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,830,908 shares of the utilities provider's stock after selling 87,928 shares during the quarter. ProShare Advisors LLC owned about 0.53% of Consolidated Edison worth $163,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantinno Capital Management LP raised its stake in Consolidated Edison by 154.3% during the 4th quarter. Quantinno Capital Management LP now owns 111,726 shares of the utilities provider's stock worth $9,969,000 after buying an additional 67,785 shares during the period. Mufg Securities Americas Inc. acquired a new position in Consolidated Edison during the 4th quarter worth approximately $456,000. Man Group plc raised its stake in Consolidated Edison by 95.6% during the 4th quarter. Man Group plc now owns 605,933 shares of the utilities provider's stock worth $54,067,000 after buying an additional 296,115 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Consolidated Edison by 0.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 42,885 shares of the utilities provider's stock worth $3,841,000 after buying an additional 266 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Consolidated Edison during the 4th quarter worth approximately $1,018,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 2.2%

Shares of NYSE:ED traded up $2.30 on Friday, reaching $104.31. 2,758,878 shares of the company traded hands, compared to its average volume of 2,282,299. The business's 50-day simple moving average is $108.45 and its 200 day simple moving average is $99.82. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a market capitalization of $37.58 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the business posted $2.15 earnings per share. As a group, equities analysts anticipate 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 dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.26%. Consolidated Edison's dividend payout ratio (DPR) is currently 62.85%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of research reports. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Guggenheim upped their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Barclays increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Finally, Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $104.36.

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.