Janney Montgomery Scott LLC Sells 1,415 Shares of Consolidated Edison, Inc. (NYSE:ED)

Janney Montgomery Scott LLC lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 202,186 shares of the utilities provider’s stock after selling 1,415 shares during the period. Janney Montgomery Scott LLC’s holdings in Consolidated Edison were worth $21,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Beacon Capital Management LLC grew its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Consolidated Edison during the first quarter worth about $33,000. TruNorth Capital Management LLC purchased a new position in Consolidated Edison during the second quarter worth about $33,000. Versant Capital Management Inc increased its stake in Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 327 shares during the last quarter. Finally, ESL Trust Services LLC purchased a new stake in shares of Consolidated Edison in the 1st quarter valued at about $54,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.7 %

NYSE ED opened at $99.82 on Wednesday. The firm has a market cap of $34.55 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The stock has a 50-day moving average of $103.51 and a 200-day moving average of $97.85. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.33%. Consolidated Edison’s payout ratio is currently 64.59%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ED. Guggenheim upped their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley increased their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Finally, Bank of America lifted their price target on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.73.

Consolidated Edison Company 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.