Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Lowered by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its position in Consolidated Edison, Inc. (NYSE:ED) by 4.7% during the second quarter, Holdings Channel reports. The fund owned 22,194 shares of the utilities provider’s stock after selling 1,092 shares during the quarter. Moors & Cabot Inc.’s holdings in Consolidated Edison were worth $1,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ED. Norges Bank acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $243,511,000. ProShare Advisors LLC increased its position in Consolidated Edison by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after acquiring an additional 123,654 shares during the period. Hsbc Holdings PLC increased its position in Consolidated Edison by 11.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,386,743 shares of the utilities provider’s stock valued at $126,042,000 after acquiring an additional 139,370 shares during the period. Dimensional Fund Advisors LP raised its stake in Consolidated Edison by 11.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after acquiring an additional 125,859 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Consolidated Edison by 14.6% during the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock worth $65,435,000 after acquiring an additional 91,559 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

ED opened at $104.60 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The firm has a market cap of $36.17 billion, a PE ratio of 20.08, a P/E/G ratio of 3.50 and a beta of 0.36. The business has a fifty day simple moving average of $99.37 and a 200-day simple moving average of $94.40. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period in the prior year, the business posted $0.61 earnings per share. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

Analyst Ratings Changes

A number of research analysts have recently commented on ED shares. Barclays raised their price target on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Guggenheim upped their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Bank of America increased their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Mizuho boosted their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Finally, Wells Fargo & Company increased their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison 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.