Banque Cantonale Vaudoise Trims Stake in Consolidated Edison, Inc. (NYSE:ED)

Banque Cantonale Vaudoise lowered its holdings in Consolidated Edison, Inc. (NYSE:EDGet Rating) by 9.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,550 shares of the utilities provider’s stock after selling 2,600 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Consolidated Edison were worth $2,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DB Fitzpatrick & Co Inc purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $25,000. Godsey & Gibb Associates purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $26,000. Shore Point Advisors LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $26,000. Tyler Stone Wealth Management purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $26,000. Finally, Rise Advisors LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 65.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Mizuho cut their price objective on Consolidated Edison from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Monday, June 27th. Morgan Stanley increased their price target on Consolidated Edison from $76.00 to $77.00 and gave the company an “underweight” rating in a research report on Thursday, July 21st. Guggenheim raised Consolidated Edison from a “sell” rating to a “neutral” rating and set a $94.00 price target on the stock in a research report on Monday, May 23rd. Credit Suisse Group initiated coverage on Consolidated Edison in a research report on Monday, April 25th. They issued a “neutral” rating and a $100.00 price target on the stock. Finally, Wells Fargo & Company lowered Consolidated Edison from an “equal weight” rating to a “sell” rating and increased their price target for the company from $85.00 to $94.00 in a research report on Tuesday, May 3rd. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.91.

Consolidated Edison Trading Down 0.2 %

ED opened at $97.19 on Friday. Consolidated Edison, Inc. has a one year low of $71.52 and a one year high of $101.12. The company has a market cap of $34.43 billion, a P/E ratio of 21.27, a PEG ratio of 10.86 and a beta of 0.25. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.93 and a current ratio of 1.01. The business’s 50-day simple moving average is $94.11 and its 200-day simple moving average is $92.02.

Consolidated Edison (NYSE:EDGet Rating) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Consolidated Edison had a return on equity of 7.85% and a net margin of 11.16%. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 4.49 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 17th will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, August 16th. This represents a $3.16 dividend on an annualized basis and a yield of 3.25%. Consolidated Edison’s dividend payout ratio is presently 69.15%.

Consolidated Edison Company Profile

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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 3.5 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 1,555 customers in parts of Manhattan.

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

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