SG Americas Securities LLC trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 79.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,267 shares of the utilities provider’s stock after selling 53,698 shares during the quarter. SG Americas Securities LLC’s holdings in Consolidated Edison were worth $1,224,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ED. Burleson & Company LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $26,000. Destiny Wealth Partners LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $30,000. Private Capital Group LLC lifted its position in shares of Consolidated Edison by 327.6% in the 2nd quarter. Private Capital Group LLC now owns 325 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 249 shares during the period. Heritage Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $39,000. Finally, Northern Oak Wealth Management Inc. lifted its position in shares of Consolidated Edison by 358.4% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 408 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 319 shares during the period. 64.95% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on ED shares. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $87.00 to $98.00 in a research report on Wednesday, December 14th. Royal Bank of Canada boosted their target price on shares of Consolidated Edison from $89.00 to $90.00 and gave the company a “sector perform” rating in a research report on Monday, October 3rd. Mizuho downgraded shares of Consolidated Edison from a “buy” rating to a “neutral” rating and boosted their target price for the company from $91.00 to $98.00 in a research report on Monday, January 9th. Bank of America upgraded shares of Consolidated Edison from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $78.00 to $95.00 in a research report on Wednesday, November 30th. Finally, KeyCorp dropped their target price on shares of Consolidated Edison from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Thursday, October 20th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $86.64.
Consolidated Edison Stock Performance
Consolidated Edison (NYSE:ED – Get Rating) last issued its earnings results on Thursday, November 3rd. The utilities provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.16. Consolidated Edison had a net margin of 11.25% and a return on equity of 8.17%. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $3.73 billion. On average, analysts expect that Consolidated Edison, Inc. will post 4.56 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 16th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Tuesday, November 15th. Consolidated Edison’s payout ratio is 66.25%.
Consolidated Edison Profile
Consolidated Edison, Inc operates as a holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York(CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.
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