Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 17.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,501 shares of the utilities provider’s stock after selling 308 shares during the period. Sentry Investment Management LLC’s holdings in Consolidated Edison were worth $134,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Consolidated Edison in the 4th quarter valued at $243,511,000. Acadian Asset Management LLC grew its position in shares of Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after purchasing an additional 532,893 shares during the period. AMF Tjanstepension AB increased its stake in shares of Consolidated Edison by 243.2% during the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock worth $44,564,000 after purchasing an additional 352,903 shares in the last quarter. Swedbank AB acquired a new position in shares of Consolidated Edison during the 1st quarter worth about $30,515,000. Finally, LPL Financial LLC lifted its stake in Consolidated Edison by 101.3% in the 2nd quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock valued at $54,242,000 after buying an additional 305,291 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.4 %

ED stock opened at $103.38 on Friday. The firm has a market cap of $35.75 billion, a PE ratio of 19.84, a PEG ratio of 3.49 and a beta of 0.36. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm’s 50 day moving average price is $98.42 and its 200-day moving average price is $93.92.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the prior year, the company posted $0.61 EPS. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. UBS Group increased their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Mizuho boosted their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Finally, Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.65.

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.