Envestnet Portfolio Solutions Inc. Sells 561 Shares of Consolidated Edison Inc (NYSE:ED)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Consolidated Edison Inc (NYSE:ED) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,802 shares of the utilities provider’s stock after selling 561 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Consolidated Edison were worth $1,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. Revolve Wealth Partners LLC boosted its position in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares in the last quarter. ING Groep NV acquired a new stake in shares of Consolidated Edison in the 4th quarter worth about $725,000. Navellier & Associates Inc. raised its holdings in shares of Consolidated Edison by 29.6% in the 4th quarter. Navellier & Associates Inc. now owns 4,070 shares of the utilities provider’s stock worth $363,000 after acquiring an additional 930 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Consolidated Edison by 10.6% in the 4th quarter. Sigma Planning Corp now owns 13,312 shares of the utilities provider’s stock worth $1,188,000 after acquiring an additional 1,273 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in shares of Consolidated Edison by 1.0% in the 4th quarter. TCW Group Inc. now owns 18,605 shares of the utilities provider’s stock worth $1,660,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ED. Morgan Stanley lowered their target price on shares of Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating on the stock in a report on Wednesday, June 18th. Guggenheim upped their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. UBS Group upped their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Finally, Citigroup upped their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $104.18.

Consolidated Edison Stock Up 0.2%

Consolidated Edison stock opened at $101.17 on Tuesday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a 50 day moving average price of $105.90 and a 200-day moving average price of $100.65. The company has a market capitalization of $36.45 billion, a P/E ratio of 18.70, a P/E/G ratio of 3.22 and a beta of 0.27. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same period last year, the business posted $2.15 earnings per share. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

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.