Orion Portfolio Solutions LLC Lowers Stake in Consolidated Edison, Inc. (NYSE:ED)

Orion Portfolio Solutions LLC lowered its position in shares of Consolidated Edison, Inc. (NYSE:EDFree Report) by 47.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,005 shares of the utilities provider’s stock after selling 6,392 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Consolidated Edison were worth $657,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares in the last quarter. Northern Trust Corp raised its position in shares of Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after buying an additional 340,239 shares during the last quarter. Morgan Stanley raised its position in shares of Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after buying an additional 72,915 shares during the last quarter. Invesco Ltd. raised its position in shares of Consolidated Edison by 4.5% during the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after buying an additional 129,519 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $243,511,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $73.00 to $80.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. UBS Group reduced their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $89.46.

Get Our Latest Stock Analysis on Consolidated Edison

Consolidated Edison Trading Down 1.2 %

ED stock opened at $92.57 on Thursday. 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 twelve month low of $80.46 and a twelve month high of $98.85. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 2.37 and a beta of 0.35. The firm’s fifty day simple moving average is $93.31 and its two-hundred day simple moving average is $91.18.

Consolidated Edison (NYSE:EDGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the business posted $1.83 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Consolidated Edison Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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