NTV Asset Management LLC Sells 125 Shares of Consolidated Edison Inc (NYSE:ED)

NTV Asset Management LLC decreased its stake in Consolidated Edison Inc (NYSE:ED) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,305 shares of the utilities provider’s stock after selling 125 shares during the period. NTV Asset Management LLC’s holdings in Consolidated Edison were worth $366,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ED. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison in the first quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison in the first quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $35,000. Wood Tarver Financial Group LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $35,000. Finally, Fairway Wealth LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $36,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. KeyCorp lowered shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research report on Wednesday, May 14th. UBS Group boosted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating for the company in a research note on Wednesday, June 18th. Guggenheim boosted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $105.27.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $99.42 on Wednesday. The company’s fifty day moving average price is $103.22 and its 200-day moving average price is $101.18. The firm has a market capitalization of $35.82 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.18 and a beta of 0.26. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19.

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). The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same period in the previous year, the company earned $2.15 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were paid a $0.85 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.42%. Consolidated Edison’s dividend payout ratio (DPR) is 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.