Consolidated Edison, Inc. (NYSE:ED) Shares Sold by WealthTrust Axiom LLC

WealthTrust Axiom LLC cut its position in Consolidated Edison, Inc. (NYSE:ED) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 30,738 shares of the utilities provider’s stock after selling 1,360 shares during the period. Consolidated Edison accounts for approximately 0.9% of WealthTrust Axiom LLC’s holdings, making the stock its 28th biggest position. WealthTrust Axiom LLC’s holdings in Consolidated Edison were worth $2,796,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ED. Ballentine Partners LLC boosted its position in shares of Consolidated Edison by 6.6% in the 3rd quarter. Ballentine Partners LLC now owns 2,877 shares of the utilities provider’s stock valued at $246,000 after purchasing an additional 178 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Consolidated Edison by 13.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,557 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 305 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Consolidated Edison by 3.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,105 shares of the utilities provider’s stock valued at $779,000 after purchasing an additional 326 shares during the period. PDS Planning Inc acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $203,000. Finally, Busey Trust CO boosted its position in shares of Consolidated Edison by 1.6% in the 3rd quarter. Busey Trust CO now owns 90,234 shares of the utilities provider’s stock valued at $7,718,000 after purchasing an additional 1,434 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock traded up $0.24 during trading hours on Tuesday, reaching $94.21. 1,069,825 shares of the company’s stock were exchanged, compared to its average volume of 1,850,878. The company has a market cap of $32.55 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 8.75 and a beta of 0.35. The company’s 50 day moving average is $89.65 and its two-hundred day moving average is $89.97. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.44. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the business posted $0.81 EPS. Consolidated Edison’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is currently 46.24%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ED. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Scotiabank decreased their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. UBS Group decreased their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Barclays increased their price objective on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.54.

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.