Consolidated Edison Inc $ED Stock Position Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its position in Consolidated Edison Inc (NYSE:ED) by 65.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,705 shares of the utilities provider’s stock after selling 5,119 shares during the period. Edgestream Partners L.P.’s holdings in Consolidated Edison were worth $306,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $26,000. Westfuller Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $27,000. Sachetta LLC raised its holdings in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Finally, WealthCollab LLC lifted its stake in Consolidated Edison by 68.4% during the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of several recent research reports. Mizuho set a $114.00 price target on shares of Consolidated Edison in a research report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Finally, Argus set a $112.00 target price on Consolidated Edison in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $108.47.

Consolidated Edison Stock Down 0.2%

Consolidated Edison stock opened at $108.17 on Thursday. The firm has a market cap of $39.86 billion, a PE ratio of 18.21, a P/E/G ratio of 2.81 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The firm’s 50 day moving average price is $109.38 and its two-hundred day moving average price is $109.64. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is currently 59.76%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.