SeaCrest Wealth Management LLC Lowers Holdings in Consolidated Edison, Inc. (NYSE:ED)

SeaCrest Wealth Management LLC lessened its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,586 shares of the utilities provider’s stock after selling 103 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Consolidated Edison were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ED. Jacobi Capital Management LLC boosted its stake in Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares during the period. Glen Eagle Advisors LLC boosted its position in shares of Consolidated Edison by 6.2% during the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 111 shares during the last quarter. Richwood Investment Advisors LLC lifted its position in Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after buying an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in Consolidated Edison by 5.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after buying an additional 125 shares during the period. Finally, TrinityPoint Wealth LLC boosted its stake in Consolidated Edison by 1.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider’s stock worth $1,017,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd. UBS Group lifted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Citigroup boosted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Three research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $104.27.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $101.57 on Friday. The business’s 50 day moving average price is $107.33 and its 200 day moving average price is $100.39. The firm has a market cap of $36.59 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. 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 (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period in the previous year, the business earned $2.15 EPS. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.35%. Consolidated Edison’s dividend payout ratio is currently 62.85%.

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.