Consolidated Edison Inc $ED Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. lowered its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 45.2% in the third quarter, Holdings Channel.com reports. The fund owned 6,746 shares of the utilities provider’s stock after selling 5,570 shares during the quarter. Philadelphia Trust Co.’s holdings in Consolidated Edison were worth $690,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Consolidated Edison during the second quarter worth $4,609,491,000. Lazard Asset Management LLC boosted its stake in shares of Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares during the period. Deutsche Bank AG bought a new position in shares of Consolidated Edison in the second quarter worth about $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Consolidated Edison by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider’s stock worth $536,298,000 after purchasing an additional 353,000 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Consolidated Edison in the 2nd quarter worth about $494,352,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research analyst reports. Mizuho set a $108.00 price objective on shares of Consolidated Edison in a report on Wednesday, October 7th. Royal Bank Of Canada dropped their target price on shares of Consolidated Edison from $110.00 to $109.00 in a research note on Monday, October 26th. KeyCorp reduced their target price on shares of Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. Scotiabank decreased their price target on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Monday, October 19th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $109.74.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $119.22 on Wednesday. The firm has a market cap of $44.25 billion, a P/E ratio of 19.08, a P/E/G ratio of 4.10 and a beta of 0.23. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $122.75. The stock’s fifty day moving average price is $109.38 and its 200-day moving average price is $109.50.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. Consolidated Edison had a net margin of 12.70% and a return on equity of 8.58%. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio is presently 56.80%.

Consolidated Edison Profile

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.