Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC lowered its holdings in shares of Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,533 shares of the utilities provider’s stock after selling 346 shares during the quarter. Integrated Advisors Network LLC’s holdings in Consolidated Edison were worth $1,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of Consolidated Edison by 8.7% during the second quarter. Lazard Asset Management LLC now owns 6,885,619 shares of the utilities provider’s stock worth $654,821,000 after purchasing an additional 550,853 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Consolidated Edison by 902.1% during the second quarter. Los Angeles Capital Management LLC now owns 453,569 shares of the utilities provider’s stock valued at $43,134,000 after acquiring an additional 408,308 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Consolidated Edison by 97.0% in the second quarter. Renaissance Technologies LLC now owns 694,668 shares of the utilities provider’s stock valued at $66,063,000 after acquiring an additional 342,000 shares in the last quarter. Amundi boosted its stake in shares of Consolidated Edison by 25.8% in the second quarter. Amundi now owns 1,601,465 shares of the utilities provider’s stock worth $150,230,000 after acquiring an additional 328,235 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Consolidated Edison by 12,211.9% during the third quarter. Assetmark Inc. now owns 258,303 shares of the utilities provider’s stock worth $22,152,000 after purchasing an additional 256,205 shares in the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Guggenheim decreased their price objective on Consolidated Edison from $94.00 to $82.00 in a report on Monday, October 24th. Wells Fargo & Company upped their target price on Consolidated Edison from $87.00 to $98.00 in a report on Wednesday, December 14th. UBS Group lifted their price target on Consolidated Edison to $96.00 in a report on Monday, November 21st. Credit Suisse Group lowered their price target on shares of Consolidated Edison from $94.00 to $82.00 in a research report on Monday, October 10th. Finally, StockNews.com started coverage on shares of Consolidated Edison in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.73.

Consolidated Edison Stock Up 0.3 %

ED stock opened at $95.31 on Wednesday. The company’s 50 day moving average price is $96.19 and its 200 day moving average price is $94.14. The firm has a market capitalization of $33.82 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 9.76 and a beta of 0.34. Consolidated Edison, Inc. has a fifty-two week low of $78.10 and a fifty-two week high of $102.21. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.83.

Consolidated Edison (NYSE:ED – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The utilities provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.16. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $3.73 billion. Consolidated Edison had a net margin of 11.25% and a return on equity of 8.17%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 4.56 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.40%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, February 14th. Consolidated Edison’s payout ratio is 66.25%.

About Consolidated Edison

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Consolidated Edison, Inc operates as a holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York(CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.