Northstar Financial Companies Inc. Sells 5,589 Shares of Consolidated Edison Inc $ED

Northstar Financial Companies Inc. trimmed its holdings in Consolidated Edison Inc (NYSE:ED) by 40.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,307 shares of the utilities provider’s stock after selling 5,589 shares during the period. Northstar Financial Companies Inc.’s holdings in Consolidated Edison were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Consolidated Edison by 194.5% in the 3rd quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock valued at $1,559,000 after acquiring an additional 10,044 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Consolidated Edison by 16.9% in the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after purchasing an additional 29,635 shares during the last quarter. North Dakota State Investment Board bought a new stake in shares of Consolidated Edison in the fourth quarter worth about $1,228,000. AIA Group Ltd lifted its position in shares of Consolidated Edison by 99.5% in the third quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider’s stock worth $4,703,000 after buying an additional 23,337 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Consolidated Edison by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after purchasing an additional 20,972 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.3%

NYSE:ED opened at $112.11 on Wednesday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a market cap of $41.31 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.27. The stock has a fifty day simple moving average of $108.18 and a 200-day simple moving average of $108.39. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group restated a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. KeyCorp increased their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.