Vontobel Holding Ltd. Sells 828 Shares of Consolidated Edison, Inc. (NYSE:ED)

Vontobel Holding Ltd. decreased its stake in Consolidated Edison, Inc. (NYSE:ED) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,684 shares of the utilities provider’s stock after selling 828 shares during the period. Vontobel Holding Ltd.’s holdings in Consolidated Edison were worth $1,063,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ED. Financial Gravity Asset Management Inc. grew its holdings in Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares during the period. Level Financial Advisors Inc. bought a new position in Consolidated Edison during the third quarter worth about $26,000. Retirement Group LLC grew its holdings in Consolidated Edison by 74.8% during the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 116 shares during the period. Tyler Stone Wealth Management bought a new position in Consolidated Edison during the second quarter worth about $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth about $29,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.0 %

Shares of ED stock opened at $91.77 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The stock has a market cap of $31.71 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 8.57 and a beta of 0.35. The stock has a 50 day simple moving average of $88.97 and a 200 day simple moving average of $89.66. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is presently 46.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Scotiabank lifted their price target on Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. LADENBURG THALM/SH SH started coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective for the company. Barclays boosted their price objective on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, UBS Group reduced their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $87.96.

About Consolidated Edison

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.