Ameritas Advisory Services LLC Sells 10,612 Shares of Consolidated Edison Inc $ED

Ameritas Advisory Services LLC lessened its stake in Consolidated Edison Inc (NYSE:ED) by 82.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,322 shares of the utilities provider’s stock after selling 10,612 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Consolidated Edison were worth $233,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in shares of Consolidated Edison by 13.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after acquiring an additional 100 shares during the period. Certuity LLC raised its position in Consolidated Edison by 2.7% during the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 100 shares in the last quarter. Stephens Inc. AR lifted its stake in Consolidated Edison by 0.8% during the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock worth $1,386,000 after purchasing an additional 105 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Consolidated Edison by 0.7% in the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock valued at $1,489,000 after purchasing an additional 110 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Consolidated Edison by 3.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,613 shares of the utilities provider’s stock valued at $363,000 after purchasing an additional 111 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. TD Cowen started coverage on Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Morgan Stanley restated an “underweight” rating and issued a $96.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Finally, Barclays dropped their price objective on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $104.20.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $113.59 on Tuesday. The company has a market capitalization of $41.00 billion, a PE ratio of 19.86, a P/E/G ratio of 3.10 and a beta of 0.38. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a twelve month low of $94.50 and a twelve month high of $114.87. The firm has a fifty day simple moving average of $102.53 and a 200 day simple moving average of $100.66.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Insider Activity at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Consolidated Edison 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.