Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 8.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,242 shares of the utilities provider’s stock after selling 471 shares during the quarter. Centaurus Financial Inc.’s holdings in Consolidated Edison were worth $546,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. raised its holdings in Consolidated Edison by 4.2% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Consolidated Edison by 13.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after buying an additional 100 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock valued at $2,517,000 after buying an additional 136 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Consolidated Edison by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after buying an additional 141 shares in the last quarter. Finally, Center For Asset Management LLC boosted its stake in shares of Consolidated Edison by 3.5% in the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after buying an additional 147 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

NYSE:ED opened at $101.72 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market cap of $35.24 billion, a PE ratio of 19.16, a P/E/G ratio of 3.31 and a beta of 0.36. The firm has a 50 day simple moving average of $101.85 and a 200-day simple moving average of $98.13. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group raised their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Barclays reduced their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Scotiabank boosted their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.19.

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.