Koshinski Asset Management Inc. Trims Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Koshinski Asset Management Inc. reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 40.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,515 shares of the utilities provider’s stock after selling 3,085 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Consolidated Edison were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Daymark Wealth Partners LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $205,000. Creative Financial Designs Inc. ADV increased its position in shares of Consolidated Edison by 12.6% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,455 shares of the utilities provider’s stock worth $587,000 after acquiring an additional 722 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Consolidated Edison in the fourth quarter worth $59,000. Bruce G. Allen Investments LLC bought a new stake in Consolidated Edison in the fourth quarter valued at about $31,000. Finally, Vest Financial LLC lifted its stake in Consolidated Edison by 32.0% during the fourth quarter. Vest Financial LLC now owns 307,734 shares of the utilities provider’s stock worth $27,995,000 after purchasing an additional 74,623 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of recent analyst reports. Scotiabank decreased their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Mizuho upped their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Wells Fargo & Company lifted their price target on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Argus raised Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Morgan Stanley dropped their price target on shares of Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.27.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded up $1.12 during trading on Thursday, reaching $94.88. The stock had a trading volume of 504,643 shares, compared to its average volume of 1,872,643. The stock has a fifty day simple moving average of $92.35 and a two-hundred day simple moving average of $91.10. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 2.32 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.26. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

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.