Palladium Partners LLC cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,246 shares of the utilities provider’s stock after selling 1,248 shares during the period. Palladium Partners LLC’s holdings in Consolidated Edison were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of ED. WFG Advisors LP raised its stake in shares of Consolidated Edison by 19.6% in the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 214 shares during the period. AllSquare Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $113,000. Calton & Associates Inc. acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $119,000. Asset Dedication LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $183,000. Finally, Round Table Services LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 56.14% of the company’s stock.
Several research firms have issued reports on ED. Morgan Stanley dropped their price target on Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday. UBS Group began coverage on Consolidated Edison in a research note on Friday, February 2nd. They issued a “neutral” rating and a $80.00 price target on the stock. Zacks Investment Research downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. assumed coverage on Consolidated Edison in a research note on Friday, January 12th. They issued an “underweight” rating and a $78.00 price target on the stock. Finally, Guggenheim reaffirmed a “hold” rating and issued a $88.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Consolidated Edison presently has an average rating of “Hold” and an average price target of $81.32.
Consolidated Edison, Inc. (ED) opened at $76.60 on Wednesday. Consolidated Edison, Inc. has a 12-month low of $72.63 and a 12-month high of $89.70. The firm has a market capitalization of $23,999.32, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 9.06 and a beta of 0.03. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s payout ratio is currently 69.00%.
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Consolidated Edison Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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