Ballentine Partners LLC Sells 191 Shares of Consolidated Edison, Inc. (NYSE:ED)

Ballentine Partners LLC lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,256 shares of the utilities provider’s stock after selling 191 shares during the period. Ballentine Partners LLC’s holdings in Consolidated Edison were worth $443,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC grew its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Pathway Financial Advisers LLC bought a new position in Consolidated Edison during the first quarter valued at $33,000. TruNorth Capital Management LLC purchased a new stake in Consolidated Edison in the second quarter worth $33,000. Versant Capital Management Inc lifted its position in shares of Consolidated Edison by 380.2% during the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after buying an additional 327 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 2.2 %

Shares of Consolidated Edison stock opened at $104.60 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The firm has a market cap of $36.17 billion, a PE ratio of 20.08, a PEG ratio of 3.57 and a beta of 0.36. The company has a 50 day simple moving average of $103.35 and a two-hundred day simple moving average of $97.25.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the firm posted $0.61 EPS. Analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.17%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ED. Wells Fargo & Company boosted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Finally, Bank of America lifted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $98.73.

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.