Delta Asset Management LLC TN Sells 174 Shares of Consolidated Edison, Inc. (NYSE:ED)

Delta Asset Management LLC TN trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,087 shares of the utilities provider’s stock after selling 174 shares during the period. Delta Asset Management LLC TN’s holdings in Consolidated Edison were worth $1,372,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ED. Legal & General Group Plc grew its position in Consolidated Edison by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock worth $530,373,000 after acquiring an additional 27,850 shares during the last quarter. Northern Trust Corp lifted its holdings in Consolidated Edison by 8.2% in the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after buying an additional 340,239 shares during the period. Morgan Stanley boosted its position in shares of Consolidated Edison by 1.8% in the 3rd quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock worth $361,069,000 after purchasing an additional 72,915 shares during the last quarter. Invesco Ltd. increased its stake in shares of Consolidated Edison by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after acquiring an additional 129,519 shares during the last quarter. Finally, Norges Bank acquired a new stake in Consolidated Edison in the fourth quarter worth $243,511,000. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Scotiabank dropped their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Barclays boosted their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Finally, UBS Group lowered their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $88.46.

Consolidated Edison Trading Down 0.2 %

Consolidated Edison stock traded down $0.21 during trading hours on Wednesday, reaching $96.13. 3,657,510 shares of the company’s stock were exchanged, compared to its average volume of 1,900,492. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $98.85. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The firm’s 50 day simple moving average is $92.26 and its 200 day simple moving average is $90.90. The firm has a market capitalization of $33.24 billion, a PE ratio of 18.49, a PEG ratio of 9.08 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. Research analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is currently 63.72%.

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.