Court Place Advisors LLC Cuts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Court Place Advisors LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,750 shares of the utilities provider’s stock after selling 200 shares during the period. Court Place Advisors LLC’s holdings in Consolidated Edison were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the third quarter worth about $30,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the fourth quarter worth about $27,000. FSA Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter valued at about $55,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ED shares. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $100.00.

Consolidated Edison Trading Up 4.7 %

Consolidated Edison stock opened at $94.87 on Tuesday. The stock has a 50-day moving average price of $92.88 and a 200 day moving average price of $98.07. The company has a market capitalization of $32.86 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.58%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend 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.