Shell Asset Management Co. Decreases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Shell Asset Management Co. decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,960 shares of the utilities provider’s stock after selling 21,115 shares during the period. Shell Asset Management Co.’s holdings in Consolidated Edison were worth $2,763,000 at the end of the most recent reporting period.

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

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 price-to-earnings ratio of 19.91, a P/E/G ratio of 3.05 and a beta of 0.29. The firm has a fifty day moving average price of $108.45 and a 200 day moving average price of $99.84. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. 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 (NYSE:ED) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company earned $2.15 EPS. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ED. Wells Fargo & Company raised their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Barclays raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Guggenheim boosted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. KeyCorp cut shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research note on Wednesday. Finally, Morgan Stanley set a $94.00 price target on shares of Consolidated Edison and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.36.

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.