Arlington Trust Co LLC Decreases Position in Consolidated Edison, Inc. (NYSE:ED)

Arlington Trust Co LLC lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,702 shares of the utilities provider’s stock after selling 190 shares during the quarter. Arlington Trust Co LLC’s holdings in Consolidated Edison were worth $152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Focused Wealth Management Inc raised its position in Consolidated Edison by 4.5% during the fourth quarter. Focused Wealth Management Inc now owns 4,000 shares of the utilities provider’s stock worth $357,000 after acquiring an additional 173 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $109,000. Kestra Private Wealth Services LLC lifted its stake in Consolidated Edison by 17.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 10,394 shares of the utilities provider’s stock valued at $927,000 after buying an additional 1,514 shares in the last quarter. Empowered Funds LLC grew its holdings in Consolidated Edison by 9.2% during the 4th quarter. Empowered Funds LLC now owns 6,319 shares of the utilities provider’s stock valued at $564,000 after buying an additional 534 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its position in Consolidated Edison by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 6,247 shares of the utilities provider’s stock worth $557,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $96.05 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $33.27 billion, a P/E ratio of 18.09, a PEG ratio of 3.04 and a beta of 0.39. The firm has a fifty day moving average of $91.96 and a 200-day moving average of $98.17. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. As a group, analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.54%. Consolidated Edison’s payout ratio is 62.52%.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent research reports. Barclays dropped their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.00.

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.