Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the utilities provider’s stock after selling 200 shares during the period. Washington Trust Advisors Inc.’s holdings in Consolidated Edison were worth $136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ED. IHT Wealth Management LLC lifted its stake in Consolidated Edison by 1.4% in the fourth quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 110 shares during the last quarter. Lido Advisors LLC raised its position in shares of Consolidated Edison by 0.3% during the first quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock worth $4,198,000 after acquiring an additional 113 shares during the last quarter. Retirement Group LLC increased its position in Consolidated Edison by 74.8% in the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 116 shares during the period. Brinker Capital Investments LLC lifted its position in Consolidated Edison by 1.2% during the 1st quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock valued at $908,000 after purchasing an additional 117 shares during the period. Finally, MGO One Seven LLC grew its position in shares of Consolidated Edison by 2.1% during the 3rd quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock worth $490,000 after buying an additional 119 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.6 %

Shares of NYSE ED traded up $0.54 during mid-day trading on Thursday, hitting $90.59. The company had a trading volume of 566,043 shares, compared to its average volume of 1,766,624. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The company has a market capitalization of $31.30 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 8.24 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. The firm has a 50-day simple moving average of $88.95 and a two-hundred day simple moving average of $89.53.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were paid a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.66%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio (DPR) is currently 46.24%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of analyst reports. Scotiabank increased their price target on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. Barclays upped 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. Finally, JPMorgan Chase & Co. raised their price objective on Consolidated Edison from $84.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 29th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.96.

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.