Aviso Wealth Management Sells 4,316 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aviso Wealth Management trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,083 shares of the utilities provider’s stock after selling 4,316 shares during the quarter. Aviso Wealth Management’s holdings in Consolidated Edison were worth $946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC boosted its position in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after acquiring an additional 24,211 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock valued at $904,000 after buying an additional 9,903 shares during the period. Cetera Advisors LLC increased its stake in shares of Consolidated Edison by 74.5% during the first quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 7,324 shares during the period. Acadian Asset Management LLC increased its stake in shares of Consolidated Edison by 162.1% during the first quarter. Acadian Asset Management LLC now owns 176,279 shares of the utilities provider’s stock valued at $15,999,000 after buying an additional 109,035 shares during the period. Finally, Czech National Bank increased its stake in shares of Consolidated Edison by 8.5% during the second quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ED. Morgan Stanley raised their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company raised their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Citigroup upgraded 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 note on Tuesday, October 15th. Bank of America raised their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.35.

Consolidated Edison Stock Up 1.3 %

Shares of ED stock opened at $96.44 on Monday. The stock has a 50 day moving average of $102.68 and a 200 day moving average of $98.04. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market cap of $33.41 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.24 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The firm 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

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.