First Horizon Advisors Inc. Decreases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

First Horizon Advisors Inc. reduced its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.4% in the third quarter, HoldingsChannel.com reports. The firm owned 2,299 shares of the utilities provider’s stock after selling 130 shares during the period. First Horizon Advisors Inc.’s holdings in Consolidated Edison were worth $239,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. CreativeOne Wealth LLC lifted its position in shares of Consolidated Edison by 38.7% in the 1st quarter. CreativeOne Wealth LLC now owns 3,943 shares of the utilities provider’s stock worth $358,000 after purchasing an additional 1,100 shares during the period. Advisors Asset Management Inc. lifted its holdings in Consolidated Edison by 7.2% in the first quarter. Advisors Asset Management Inc. now owns 17,047 shares of the utilities provider’s stock worth $1,548,000 after buying an additional 1,138 shares during the period. Quadrature Capital Ltd boosted its position in Consolidated Edison by 43.1% during the 1st quarter. Quadrature Capital Ltd now owns 7,007 shares of the utilities provider’s stock valued at $636,000 after acquiring an additional 2,112 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth approximately $80,000. Finally, Kinloch Capital LLC raised its position in shares of Consolidated Edison by 13.2% in the 1st quarter. Kinloch Capital LLC now owns 41,337 shares of the utilities provider’s stock worth $3,754,000 after acquiring an additional 4,829 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of several research reports. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays cut their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Finally, Morgan Stanley lowered their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.19.

Consolidated Edison Stock Down 0.3 %

Consolidated Edison stock opened at $98.36 on Friday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The stock has a fifty day simple moving average of $102.01 and a two-hundred day simple moving average of $98.08. 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 firm has a market cap of $34.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.26 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Equities analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.38%. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

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.