Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Lessened by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 13.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,434 shares of the utilities provider’s stock after selling 6,201 shares during the period. Atria Wealth Solutions Inc.’s holdings in Consolidated Edison were worth $3,526,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at about $243,511,000. AMF Tjanstepension AB lifted its stake in Consolidated Edison by 243.2% in the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after acquiring an additional 352,903 shares during the last quarter. Swedbank AB bought a new stake in Consolidated Edison in the first quarter worth approximately $30,515,000. Retirement Systems of Alabama grew its position in Consolidated Edison by 408.8% in the fourth quarter. Retirement Systems of Alabama now owns 396,849 shares of the utilities provider’s stock worth $36,101,000 after acquiring an additional 318,858 shares in the last quarter. Finally, Clean Energy Transition LLP acquired a new position in shares of Consolidated Edison during the 1st quarter worth $24,861,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED traded up $0.24 during midday trading on Wednesday, hitting $100.41. The company had a trading volume of 1,922,493 shares, compared to its average volume of 1,885,202. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $105.99. The company has a market capitalization of $34.73 billion, a PE ratio of 19.27, a P/E/G ratio of 2.56 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. The firm’s 50-day simple moving average is $94.44 and its 200-day simple moving average is $92.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.03%. During the same period last year, the company earned $0.61 EPS. Equities research analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ED shares. UBS Group upped their target price on Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Barclays upped their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Finally, Guggenheim lifted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.19.

About Consolidated Edison

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.