Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,141 shares of the utilities provider’s stock after selling 2,084 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Consolidated Edison were worth $726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ED. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the 3rd quarter valued at approximately $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at $30,000. CGC Financial Services LLC grew its position in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 213 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth about $55,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. Morgan Stanley reduced their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Barclays decreased their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.00.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $94.57 on Thursday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. 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 $32.76 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. The company’s 50-day moving average price is $91.89 and its two-hundred day moving average price is $98.18.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio 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.