J.W. Cole Advisors Inc. Trims Stake in Consolidated Edison, Inc. (NYSE:ED)

J.W. Cole Advisors Inc. cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,705 shares of the utilities provider’s stock after selling 312 shares during the period. J.W. Cole Advisors Inc.’s holdings in Consolidated Edison were worth $1,312,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Sheaff Brock Investment Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $377,000. Allworth Financial LP boosted its holdings in Consolidated Edison by 16.4% in the 4th quarter. Allworth Financial LP now owns 5,844 shares of the utilities provider’s stock worth $530,000 after buying an additional 823 shares during the period. Principal Securities Inc. increased its stake in Consolidated Edison by 16.0% in the 4th quarter. Principal Securities Inc. now owns 6,480 shares of the utilities provider’s stock worth $578,000 after buying an additional 892 shares in the last quarter. bLong Financial LLC bought a new stake in Consolidated Edison during the fourth quarter valued at about $685,000. Finally, WASHINGTON TRUST Co lifted its position in shares of Consolidated Edison by 13.1% in the fourth quarter. WASHINGTON TRUST Co now owns 10,818 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 1,255 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays cut their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Morgan Stanley dropped 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 report on Friday, November 22nd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.70.

Consolidated Edison Trading Down 0.7 %

ED opened at $95.01 on Tuesday. The stock has a 50-day moving average of $91.84 and a 200 day moving average of $98.13. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a market cap of $32.91 billion, a P/E ratio of 17.89, a P/E/G ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.58%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

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.