Valmark Advisers Inc. Sells 200 Shares of Consolidated Edison, Inc. (NYSE:ED)

Valmark Advisers Inc. lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,402 shares of the utilities provider’s stock after selling 200 shares during the quarter. Valmark Advisers Inc.’s holdings in Consolidated Edison were worth $214,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at about $377,000. Allworth Financial LP lifted its position in Consolidated Edison by 16.4% in the 4th quarter. Allworth Financial LP now owns 5,844 shares of the utilities provider’s stock worth $530,000 after buying an additional 823 shares during the last quarter. Principal Securities Inc. lifted its position in Consolidated Edison by 16.0% in the 4th quarter. Principal Securities Inc. now owns 6,480 shares of the utilities provider’s stock worth $578,000 after buying an additional 892 shares during the last quarter. bLong Financial LLC bought a new stake in Consolidated Edison in the 4th quarter worth approximately $685,000. Finally, WASHINGTON TRUST Co lifted its position in Consolidated Edison by 13.1% in the 4th quarter. WASHINGTON TRUST Co now owns 10,818 shares of the utilities provider’s stock worth $965,000 after buying an additional 1,255 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED opened at $95.70 on Wednesday. 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, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The stock has a market capitalization of $33.15 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. The stock’s 50 day moving average price is $91.84 and its 200-day moving average price is $98.10.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. Consolidated Edison’s payout ratio is 64.03%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ED shares. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Barclays dropped their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average target price of $100.70.

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.