WealthTrust Axiom LLC Sells 1,360 Shares of Consolidated Edison, Inc. (NYSE:ED)

WealthTrust Axiom LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,738 shares of the utilities provider’s stock after selling 1,360 shares during the period. Consolidated Edison accounts for approximately 0.9% of WealthTrust Axiom LLC’s holdings, making the stock its 28th biggest holding. WealthTrust Axiom LLC’s holdings in Consolidated Edison were worth $2,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. Certuity LLC raised its position in Consolidated Edison by 22.6% in the 4th quarter. Certuity LLC now owns 3,350 shares of the utilities provider’s stock worth $305,000 after purchasing an additional 618 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Consolidated Edison by 4.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 6,184 shares of the utilities provider’s stock worth $563,000 after buying an additional 242 shares during the period. McAdam LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $205,000. Mather Group LLC. boosted its holdings in Consolidated Edison by 8.5% during the 4th quarter. Mather Group LLC. now owns 6,194 shares of the utilities provider’s stock valued at $563,000 after acquiring an additional 484 shares during the period. Finally, Retirement Systems of Alabama grew its position in Consolidated Edison by 408.8% in the 4th quarter. Retirement Systems of Alabama now owns 396,849 shares of the utilities provider’s stock valued at $36,101,000 after acquiring an additional 318,858 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ED shares. Barclays boosted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Scotiabank dropped their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada decreased their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. UBS Group reduced their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Finally, LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.54.

Consolidated Edison Stock Up 0.3 %

Shares of ED stock traded up $0.24 during mid-day trading on Tuesday, hitting $94.21. 1,069,825 shares of the stock traded hands, compared to its average volume of 1,850,878. The stock’s fifty day moving average is $89.65 and its two-hundred day moving average is $89.97. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $100.44. The stock has a market cap of $32.55 billion, a P/E ratio of 13.09, a P/E/G ratio of 8.75 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the firm earned $0.81 earnings per share. Consolidated Edison’s revenue was down 14.6% compared to the same quarter last year. Equities analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

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.