Consolidated Edison, Inc. (NYSE:ED) Stock Holdings Reduced by Sawyer & Company Inc

Sawyer & Company Inc cut its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 18.6% in the fourth quarter, Holdings Channel reports. The firm owned 885 shares of the utilities provider’s stock after selling 202 shares during the period. Sawyer & Company Inc’s holdings in Consolidated Edison were worth $79,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ED. State Street Corp lifted its stake in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after acquiring an additional 399,034 shares during the last quarter. Geode Capital Management LLC raised its holdings in Consolidated Edison by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after buying an additional 107,281 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after buying an additional 28,254 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Consolidated Edison by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after acquiring an additional 11,785 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.0 %

Shares of ED stock opened at $90.22 on Thursday. The firm has a fifty day moving average of $93.72 and a 200-day moving average of $97.90. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Barclays lowered their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.64.

Consolidated Edison 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.