Consolidated Edison, Inc. (ED) Stake Decreased by Bray Capital Advisors

Bray Capital Advisors reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,845 shares of the utilities provider’s stock after selling 290 shares during the quarter. Bray Capital Advisors’ holdings in Consolidated Edison were worth $141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Consolidated Edison by 3.8% during the fourth quarter. BlackRock Inc. now owns 28,920,573 shares of the utilities provider’s stock worth $2,211,265,000 after purchasing an additional 1,052,035 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Consolidated Edison by 1.5% during the third quarter. Vanguard Group Inc. now owns 23,911,264 shares of the utilities provider’s stock worth $1,821,799,000 after purchasing an additional 356,339 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Consolidated Edison by 1.5% during the third quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock worth $1,821,799,000 after purchasing an additional 356,339 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Consolidated Edison by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 4,460,033 shares of the utilities provider’s stock worth $340,474,000 after purchasing an additional 398,820 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Consolidated Edison by 4.1% during the fourth quarter. Northern Trust Corp now owns 4,254,873 shares of the utilities provider’s stock worth $325,328,000 after purchasing an additional 166,793 shares in the last quarter. 60.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of ED stock opened at $85.10 on Tuesday. The stock has a market cap of $27.26 billion, a P/E ratio of 19.70, a P/E/G ratio of 9.74 and a beta of 0.12. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 52 week low of $71.12 and a 52 week high of $85.59.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 21st. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.89 billion. Consolidated Edison had a net margin of 11.20% and a return on equity of 8.42%. Consolidated Edison’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, research analysts forecast that Consolidated Edison, Inc. will post 4.36 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 13th were issued a dividend of $0.74 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, February 12th. This represents a $2.96 annualized dividend and a dividend yield of 3.48%. Consolidated Edison’s payout ratio is presently 68.52%.

ED has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Bank of America lowered shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a research note on Friday, January 18th. Mizuho assumed coverage on shares of Consolidated Edison in a research report on Monday, March 11th. They issued a “neutral” rating and a $85.00 price objective for the company. ValuEngine downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, Evercore ISI downgraded shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price objective for the company. in a research report on Tuesday, February 12th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $77.39.

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Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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