Livforsakringsbolaget Skandia Omsesidigt Sells 200 Shares of Consolidated Edison, Inc. (NYSE:ED)

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 775 shares of the utilities provider’s stock after selling 200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Consolidated Edison were worth $69,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marino Stram & Associates LLC raised its position in Consolidated Edison by 0.6% in the first quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 108 shares during the last quarter. Sandy Spring Bank lifted its stake in Consolidated Edison by 11.4% in the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after buying an additional 125 shares during the period. Syon Capital LLC grew its position in shares of Consolidated Edison by 2.3% during the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after buying an additional 136 shares during the period. G&S Capital LLC increased its stake in shares of Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after acquiring an additional 139 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its position in shares of Consolidated Edison by 5.1% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock valued at $280,000 after acquiring an additional 148 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.0 %

NYSE:ED traded up $0.02 during mid-day trading on Monday, reaching $101.04. 265,695 shares of the company’s stock traded hands, compared to its average volume of 1,881,408. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The company has a 50 day moving average price of $93.12 and a 200-day moving average price of $91.85. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.56 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.03%. During the same period in the previous year, the firm posted $0.61 EPS. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be given a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.29%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays increased their price target on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Bank of America raised their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank decreased their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Mizuho increased their target price on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $91.81.

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.