Arete Wealth Advisors LLC Trims Position in Consolidated Edison, Inc. (NYSE:ED)

Arete Wealth Advisors LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 36.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,216 shares of the utilities provider’s stock after selling 1,864 shares during the period. Arete Wealth Advisors LLC’s holdings in Consolidated Edison were worth $335,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter worth approximately $30,000. Pathway Financial Advisers LLC purchased a new stake in Consolidated Edison during the first quarter valued at approximately $33,000. TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $33,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 327 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ED. Guggenheim upped their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank boosted their price objective 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. Wells Fargo & Company increased their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $99.13.

Consolidated Edison Stock Down 1.0 %

Consolidated Edison stock opened at $100.59 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 market capitalization of $34.85 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 3.41 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business has a 50 day simple moving average of $101.75 and a 200-day simple moving average of $98.19.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, analysts anticipate 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. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Wednesday, November 13th. 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.