PDS Planning Inc Sells 127 Shares of Consolidated Edison, Inc. (NYSE:ED)

PDS Planning Inc trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,613 shares of the utilities provider’s stock after selling 127 shares during the quarter. PDS Planning Inc’s holdings in Consolidated Edison were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at $27,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at about $36,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Consolidated Edison during the fourth quarter worth about $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ED shares. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Barclays increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Mizuho boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, UBS Group lifted their target price on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Down 0.3 %

Shares of NYSE ED opened at $107.53 on Thursday. The business’s fifty day moving average price is $97.12 and its 200-day moving average price is $98.32. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $108.43. The stock has a market capitalization of $37.29 billion, a PE ratio of 20.52, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 64.89%.

About Consolidated Edison

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.