Wealth Alliance Advisory Group LLC Sells 4,840 Shares of Consolidated Edison, Inc. (NYSE:ED)

Wealth Alliance Advisory Group LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 58.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,500 shares of the utilities provider’s stock after selling 4,840 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Consolidated Edison were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ED. ProShare Advisors LLC increased its holdings in shares of Consolidated Edison by 6.6% during the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock valued at $181,687,000 after acquiring an additional 123,654 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Consolidated Edison by 0.8% during the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after buying an additional 11,785 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Consolidated Edison by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after buying an additional 125,859 shares in the last quarter. Clean Energy Transition LLP grew its holdings in shares of Consolidated Edison by 227.9% during the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after buying an additional 623,787 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Consolidated Edison by 14.6% during the first quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock worth $65,435,000 after acquiring an additional 91,559 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.0 %

Consolidated Edison stock opened at $106.76 on Friday. The firm has a 50 day simple moving average of $102.80 and a 200 day simple moving average of $96.64. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $106.77. The firm has a market capitalization of $36.92 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period in the previous year, the business earned $0.61 earnings per share. On average, analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.11%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Barclays increased their price target on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley upped their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $98.27.

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.