Wesbanco Bank Inc. Decreases Holdings in Consolidated Edison, Inc. (NYSE:ED)

Wesbanco Bank Inc. trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 6.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,407 shares of the utilities provider’s stock after selling 595 shares during the quarter. Wesbanco Bank Inc.’s holdings in Consolidated Edison were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. ProShare Advisors LLC lifted its stake in Consolidated Edison by 6.6% in the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after purchasing an additional 123,654 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Consolidated Edison by 0.8% in 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 period. Dimensional Fund Advisors LP lifted its stake in shares of Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after acquiring an additional 125,859 shares during the last quarter. Clean Energy Transition LLP boosted its holdings in Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after acquiring an additional 623,787 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Consolidated Edison by 14.6% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ED shares. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Bank of America raised their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Guggenheim increased their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Scotiabank boosted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $96.46.

Consolidated Edison Trading Up 2.3 %

ED opened at $105.45 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 52 week low of $85.15 and a 52 week high of $106.41. The stock has a market cap of $36.47 billion, a PE ratio of 20.24, a PEG ratio of 3.46 and a beta of 0.36. The business has a 50 day moving average of $102.48 and a 200-day moving average of $96.35.

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

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Consolidated Edison Company Profile

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.