PSI Advisors LLC Sells 143 Shares of Consolidated Edison Inc (NYSE:ED)

PSI Advisors LLC trimmed its stake in shares of Consolidated Edison Inc (NYSE:ED) by 29.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339 shares of the utilities provider’s stock after selling 143 shares during the quarter. PSI Advisors LLC’s holdings in Consolidated Edison were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $36,000. Wood Tarver Financial Group LLC bought a new stake in Consolidated Edison in the 4th quarter worth $35,000. OFI Invest Asset Management bought a new stake in Consolidated Edison in the 4th quarter worth $35,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison in the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison during the fourth quarter valued at about $44,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $100.66 on Thursday. The company’s fifty day moving average price is $106.46 and its 200-day moving average price is $100.51. The stock has a market cap of $36.27 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.27. 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 Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 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 business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm earned $2.15 EPS. On average, equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Guggenheim lifted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating on the stock in a research note on Wednesday. Barclays raised their price target 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, Citigroup lifted 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $104.18.

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.