First Horizon Advisors Inc. Sells 1,611 Shares of Consolidated Edison, Inc. (NYSE:ED)

First Horizon Advisors Inc. trimmed its stake in Consolidated Edison, Inc. (NYSE:EDFree Report) by 25.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,717 shares of the utilities provider’s stock after selling 1,611 shares during the period. First Horizon Advisors Inc.’s holdings in Consolidated Edison were worth $403,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. IHT Wealth Management LLC grew its position in Consolidated Edison by 1.4% in the fourth quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 110 shares during the period. Lido Advisors LLC boosted its stake in Consolidated Edison by 0.3% in the first quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock worth $4,198,000 after purchasing an additional 113 shares in the last quarter. Kistler Tiffany Companies LLC boosted its stake in Consolidated Edison by 2.4% in the second quarter. Kistler Tiffany Companies LLC now owns 4,916 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 115 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in Consolidated Edison by 2.8% in the second quarter. Douglas Lane & Associates LLC now owns 4,303 shares of the utilities provider’s stock worth $389,000 after purchasing an additional 116 shares in the last quarter. Finally, Retirement Group LLC boosted its stake in Consolidated Edison by 74.8% in the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 116 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 0.4 %

Shares of Consolidated Edison stock opened at $91.62 on Friday. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The business has a 50-day moving average of $91.04 and a two-hundred day moving average of $90.39. The company has a market capitalization of $31.63 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 8.63 and a beta of 0.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.98 and a quick ratio of 0.91.

Consolidated Edison (NYSE:EDGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.04. Consolidated Edison had a return on equity of 8.16% and a net margin of 15.57%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.01 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a dividend of $0.81 per share. The ex-dividend date was Tuesday, November 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.54%. Consolidated Edison’s payout ratio is presently 48.00%.

Analysts Set New Price Targets

ED has been the topic of a number of recent analyst reports. Barclays reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 24th. Morgan Stanley boosted their price objective on Consolidated Edison from $71.00 to $73.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 21st. Guggenheim reduced their price objective on Consolidated Edison from $85.00 to $82.00 in a research note on Monday, October 9th. StockNews.com initiated coverage on Consolidated Edison in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.39.

View Our Latest Analysis on ED

Consolidated Edison Profile

(Free Report)

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 3.6 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.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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