Northwest & Ethical Investments L.P. Sells 34,816 Shares of Consolidated Edison, Inc. (NYSE:ED)

Northwest & Ethical Investments L.P. lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 52.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,516 shares of the utilities provider’s stock after selling 34,816 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Consolidated Edison were worth $2,812,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $27,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $35,000. Fairway Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.0 %

Shares of ED opened at $108.54 on Friday. The firm has a market capitalization of $37.64 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The business’s fifty day moving average price is $97.52 and its two-hundred day moving average price is $98.39. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $109.78.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. On average, analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Ratings Changes

ED has been the subject of a number of recent research reports. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. UBS Group raised their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Barclays raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Morgan Stanley raised their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $102.10.

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.