Aviva PLC Sells 9,287 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aviva PLC lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 485,712 shares of the utilities provider’s stock after selling 9,287 shares during the quarter. Aviva PLC owned 0.14% of Consolidated Edison worth $43,340,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $35,000. Fairway Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter worth approximately $36,000. Centricity Wealth Management LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ED. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Barclays increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley boosted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Performance

ED stock opened at $109.53 on Friday. 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, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The business’s fifty day moving average is $101.43 and its 200-day moving average is $98.73. The company has a market cap of $37.98 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 64.89%.

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.