Swedbank AB Cuts Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Swedbank AB trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,681 shares of the utilities provider’s stock after selling 458 shares during the quarter. Swedbank AB owned 0.09% of Consolidated Edison worth $29,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at approximately $30,000. AlphaMark Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter valued at $27,000. FSA Wealth Management LLC purchased a new position in Consolidated Edison in the 3rd quarter valued at about $55,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Barclays lowered their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison Trading Up 1.5 %

ED opened at $93.93 on Friday. The business’s 50 day moving average is $92.67 and its two-hundred day moving average is $98.06. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share 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 during the quarter, compared to analysts’ expectations of $4.02 billion. On average, research analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

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.