Edgestream Partners L.P. Sells 8,768 Shares of Consolidated Edison, Inc. (NYSE:ED)

Edgestream Partners L.P. cut its position in Consolidated Edison, Inc. (NYSE:ED) by 34.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,834 shares of the utilities provider’s stock after selling 8,768 shares during the quarter. Edgestream Partners L.P.’s holdings in Consolidated Edison were worth $1,522,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Consolidated Edison by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock valued at $761,387,000 after acquiring an additional 154,945 shares in the last quarter. Legal & General Group Plc raised its holdings in Consolidated Edison by 0.9% in the 4th quarter. Legal & General Group Plc now owns 6,182,332 shares of the utilities provider’s stock valued at $589,238,000 after acquiring an additional 56,681 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Consolidated Edison by 1,869.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,786,202 shares of the utilities provider’s stock valued at $29,777,000 after acquiring an additional 4,543,146 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Consolidated Edison by 89,231.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock valued at $395,142,000 after acquiring an additional 4,141,220 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Consolidated Edison by 33.3% in the 4th quarter. Morgan Stanley now owns 4,128,579 shares of the utilities provider’s stock valued at $393,495,000 after acquiring an additional 1,030,730 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ED has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Consolidated Edison from $75.00 to $71.00 and set an “underweight” rating for the company in a report on Wednesday, October 25th. Bank of America lowered their price target on Consolidated Edison from $103.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, August 16th. Barclays lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Wells Fargo & Company raised Consolidated Edison from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $96.00 to $94.00 in a report on Tuesday, October 17th. Finally, Argus lowered their price target on Consolidated Edison from $104.00 to $93.00 in a report on Wednesday, October 4th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.00.

Consolidated Edison Trading Down 0.5 %

NYSE ED opened at $90.94 on Tuesday. The business’s 50-day moving average price is $88.64 and its two-hundred day moving average price is $91.15. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92. The firm has a market capitalization of $31.39 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 8.97 and a beta of 0.38. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.56%. Consolidated Edison’s dividend payout ratio (DPR) is presently 48.00%.

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 3.6 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.