Laird Norton Wetherby Wealth Management LLC Has $347,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Laird Norton Wetherby Wealth Management LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,890 shares of the utilities provider’s stock after selling 1,212 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Consolidated Edison were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ED. Barclays PLC boosted its position in shares of Consolidated Edison by 30.1% during the 3rd quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock worth $128,279,000 after acquiring an additional 285,115 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $511,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Consolidated Edison by 19.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,327 shares of the utilities provider’s stock worth $386,000 after acquiring an additional 711 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Consolidated Edison by 27.5% during the 4th quarter. Park Avenue Securities LLC now owns 23,103 shares of the utilities provider’s stock worth $2,061,000 after acquiring an additional 4,977 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Finally, Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $104.36.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $104.31 on Friday. The firm has a market cap of $37.58 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The firm’s fifty day moving average is $108.45 and its 200-day moving average is $99.84. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm posted $2.15 EPS. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 62.85%.

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.