Stephens Inc. AR Sells 74,625 Shares of Consolidated Edison, Inc. (NYSE:ED)

Stephens Inc. AR reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 82.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,318 shares of the utilities provider’s stock after selling 74,625 shares during the period. Stephens Inc. AR’s holdings in Consolidated Edison were worth $1,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ED. Empowered Funds LLC grew its stake in Consolidated Edison by 9.2% during the 4th quarter. Empowered Funds LLC now owns 6,319 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 534 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Consolidated Edison by 3.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 6,247 shares of the utilities provider’s stock worth $557,000 after buying an additional 187 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in Consolidated Edison by 3.6% during the 4th quarter. Apollon Wealth Management LLC now owns 6,178 shares of the utilities provider’s stock valued at $551,000 after acquiring an additional 215 shares during the period. Vest Financial LLC boosted its holdings in shares of Consolidated Edison by 4.3% in the 4th quarter. Vest Financial LLC now owns 530,470 shares of the utilities provider’s stock valued at $47,334,000 after acquiring an additional 21,949 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter worth $85,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Consolidated Edison Trading Down 1.8 %

Shares of Consolidated Edison stock opened at $94.57 on Thursday. The firm has a market capitalization of $32.76 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock has a 50 day moving average of $91.89 and a 200 day moving average of $98.18. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.60%. Consolidated Edison’s payout ratio is presently 62.52%.

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.