Pacer Advisors Inc. Sells 5,484 Shares of Consolidated Edison, Inc. (NYSE:ED)

Pacer Advisors Inc. lowered its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,380 shares of the utilities provider’s stock after selling 5,484 shares during the period. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $5,209,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at about $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $55,000. Finally, FSA Wealth Management LLC bought a new stake in Consolidated Edison in the 3rd quarter valued at about $55,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 1.5 %

NYSE:ED opened at $93.93 on Friday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The firm has a 50-day moving average price of $92.67 and a two-hundred day moving average price of $98.06. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.62%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ED shares. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Barclays decreased their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison Profile

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.