BCM Advisors LLC Sells 4,056 Shares of Consolidated Edison, Inc. (NYSE:ED)

BCM Advisors LLC decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 48,218 shares of the utilities provider’s stock after selling 4,056 shares during the quarter. Consolidated Edison comprises 1.0% of BCM Advisors LLC’s investment portfolio, making the stock its 17th biggest position. BCM Advisors LLC’s holdings in Consolidated Edison were worth $4,638,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State Street Corp increased its stake in Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after acquiring an additional 399,034 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Consolidated Edison by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after purchasing an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Consolidated Edison by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after buying an additional 77,323 shares during the period. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Consolidated Edison by 13.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider’s stock worth $164,811,000 after buying an additional 224,258 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Trading Down 1.6 %

Shares of NYSE:ED opened at $102.38 on Wednesday. The firm has a market capitalization of $35.49 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The business’s 50 day moving average price is $93.67 and its 200-day moving average price is $97.98. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.89%.

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.