NewEdge Wealth LLC cut its stake in Consolidated Edison Inc (NYSE:ED – Free Report) by 47.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,595 shares of the utilities provider’s stock after selling 5,898 shares during the quarter. NewEdge Wealth LLC’s holdings in Consolidated Edison were worth $655,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Meadowbrook Wealth Management LLC raised its position in shares of Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares during the period. Stephens Inc. AR raised its position in shares of Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after purchasing an additional 105 shares during the period. Bridgewater Advisors Inc. raised its position in shares of Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 105 shares during the period. HighPoint Advisor Group LLC raised its position in shares of Consolidated Edison by 0.7% in the third quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock valued at $1,489,000 after purchasing an additional 110 shares during the period. Finally, JFS Wealth Advisors LLC raised its position in shares of Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 110 shares during the period. 66.29% of the stock is owned by institutional investors.
Consolidated Edison Price Performance
ED stock opened at $105.37 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The firm has a market cap of $38.83 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.72 and a beta of 0.29. The company’s 50-day moving average price is $110.88 and its two-hundred day moving average price is $105.42.
Consolidated Edison Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.
Insider Buying and Selling
In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research report on Monday. TD Cowen raised their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Bank of America reaffirmed an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a research report on Wednesday, February 25th. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $109.14.
Check Out Our Latest Stock Analysis on Consolidated Edison
Consolidated Edison Company Profile
Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.
The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.
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