Personal CFO Solutions LLC Decreases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Personal CFO Solutions LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,821 shares of the utilities provider’s stock after selling 348 shares during the period. Personal CFO Solutions LLC’s holdings in Consolidated Edison were worth $252,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison during the third quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at about $30,000. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $44,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ED has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group upped their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $106.59 on Tuesday. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $107.97. The company’s 50 day moving average is $94.74 and its 200 day moving average is $98.05. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market cap of $36.96 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.19%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Consolidated Edison Company 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.