NBT Bank N A NY Sells 1,937 Shares of Consolidated Edison, Inc. (NYSE:ED)

NBT Bank N A NY lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 63.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,123 shares of the utilities provider’s stock after selling 1,937 shares during the period. NBT Bank N A NY’s holdings in Consolidated Edison were worth $100,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its position in Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after purchasing an additional 935,962 shares during the period. FMR LLC grew its position in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after purchasing an additional 572,530 shares during the period. National Bank of Canada FI grew its position in Consolidated Edison by 350.6% in the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after purchasing an additional 482,953 shares during the period. Cbre Investment Management Listed Real Assets LLC bought a new stake in Consolidated Edison in the 4th quarter worth approximately $37,147,000. Finally, State Street Corp grew its position in Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ED shares. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. UBS Group lifted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Scotiabank lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Down 2.6 %

ED opened at $103.85 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $107.97. The firm’s fifty day moving average is $95.04 and its 200 day moving average is $98.07. The stock has a market cap of $36.00 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.27%. Consolidated Edison’s payout ratio is 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.