Consolidated Edison, Inc. (NYSE:ED) Stake Lessened by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,829 shares of the utilities provider’s stock after selling 404 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Consolidated Edison were worth $399,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its holdings in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Consolidated Edison in the fourth quarter worth approximately $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison during the first quarter valued at $33,000. TruNorth Capital Management LLC acquired a new stake in Consolidated Edison during the second quarter valued at $33,000. Finally, Quarry LP acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at $35,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Guggenheim raised their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays upped their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Finally, Morgan Stanley boosted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $94.96.

Consolidated Edison Price Performance

Shares of ED opened at $101.58 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market capitalization of $35.16 billion, a PE ratio of 19.76, a P/E/G ratio of 3.46 and a beta of 0.36. The stock has a 50 day simple moving average of $102.31 and a 200 day simple moving average of $95.92. Consolidated Edison, Inc. has a 52-week low of $85.15 and a 52-week high of $105.99.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.27%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.59%.

About Consolidated Edison

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.