SeaCrest Wealth Management LLC Sells 103 Shares of Consolidated Edison, Inc. (NYSE:ED)

SeaCrest Wealth Management LLC trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,586 shares of the utilities provider’s stock after selling 103 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Consolidated Edison were worth $728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares during the period. Jones Financial Companies Lllp increased its stake in Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Consolidated Edison by 22.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 7,516 shares of the utilities provider’s stock worth $671,000 after acquiring an additional 1,366 shares in the last quarter. Sei Investments Co. grew its stake in shares of Consolidated Edison by 21.2% in the 4th quarter. Sei Investments Co. now owns 97,892 shares of the utilities provider’s stock worth $8,736,000 after acquiring an additional 17,147 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Consolidated Edison by 16.4% in the 4th quarter. Allworth Financial LP now owns 5,844 shares of the utilities provider’s stock worth $530,000 after acquiring an additional 823 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, May 22nd. Scotiabank increased their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. 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. UBS Group increased their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $104.27.

Consolidated Edison Stock Down 0.7%

Shares of Consolidated Edison stock opened at $101.57 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. 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 $36.59 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.05 and a beta of 0.27. The company’s 50 day moving average price is $107.33 and its 200-day moving average price is $100.39.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results 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 company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the firm earned $2.15 EPS. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) 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.