Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 28.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,219 shares of the utilities provider’s stock after selling 69,185 shares during the quarter. Sei Investments Co.’s holdings in Consolidated Edison were worth $15,669,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC raised 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 buying an additional 300 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Consolidated Edison during the fourth quarter worth $29,000. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the first quarter worth $33,000. TruNorth Capital Management LLC purchased a new stake in Consolidated Edison in the second quarter valued at $33,000. Finally, Quarry LP acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of several research analyst reports. Scotiabank increased their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday. Argus raised Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Wells Fargo & Company raised their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their price objective on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $93.81.

Consolidated Edison Trading Down 0.0 %

ED opened at $103.13 on Friday. The business has a fifty day moving average price of $100.77 and a 200 day moving average price of $94.94. 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 12 month low of $80.46 and a 12 month high of $105.99. The stock has a market capitalization of $35.67 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 3.52 and a beta of 0.36.

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

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

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.