Y Intercept Hong Kong Ltd Sells 46,002 Shares of Consolidated Edison Inc $ED

Y Intercept Hong Kong Ltd reduced its stake in Consolidated Edison Inc (NYSE:ED) by 92.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,845 shares of the utilities provider’s stock after selling 46,002 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Consolidated Edison were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. GW&K Investment Management LLC increased its holdings in Consolidated Edison by 28.5% in the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Meadowbrook Wealth Management LLC boosted its holdings in Consolidated Edison by 2.2% during the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after buying an additional 100 shares during the last quarter. bLong Financial LLC boosted its holdings in Consolidated Edison by 1.3% during the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after buying an additional 100 shares during the last quarter. Bridgewater Advisors Inc. grew its position in shares of Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after buying an additional 105 shares during the period. Finally, Venture Visionary Partners LLC grew its position in shares of Consolidated Edison by 2.0% during the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after buying an additional 108 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of ED opened at $112.11 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The stock has a 50 day simple moving average of $108.18 and a 200 day simple moving average of $108.39. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The firm has a market capitalization of $41.31 billion, a PE ratio of 18.87, a P/E/G ratio of 2.84 and a beta of 0.27.

Consolidated Edison Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, June 24th. Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Barclays decreased their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research note on Tuesday, April 21st. Finally, KeyCorp increased their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Company 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.