Consolidated Edison, Inc. (NYSE:ED) Stock Position Lessened by RWA Wealth Partners LLC

RWA Wealth Partners LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,107 shares of the utilities provider’s stock after selling 2,087 shares during the quarter. RWA Wealth Partners LLC’s holdings in Consolidated Edison were worth $828,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Newport Trust Company LLC bought a new position in Consolidated Edison during the third quarter valued at about $51,134,000. International Assets Investment Management LLC boosted its stake in Consolidated Edison by 9,063.6% during the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock valued at $47,216,000 after buying an additional 513,364 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in Consolidated Edison during the third quarter valued at about $39,556,000. Northern Trust Corp boosted its stake in Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after buying an additional 340,239 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in Consolidated Edison during the third quarter valued at about $28,156,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.6 %

Shares of Consolidated Edison stock opened at $93.43 on Thursday. The stock has a 50-day moving average price of $89.29 and a 200 day moving average price of $89.83. The company has a market cap of $32.28 billion, a P/E ratio of 13.01, a P/E/G ratio of 8.76 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. As a group, analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.55%. Consolidated Edison’s dividend payout ratio is currently 46.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group decreased their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Royal Bank of Canada reduced their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price for the company. Scotiabank reduced their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday. Finally, Barclays upped their target price on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.54.

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.