Annex Advisory Services LLC Sells 200 Shares of Consolidated Edison, Inc. (NYSE:ED)

Annex Advisory Services LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:EDFree Report) by 8.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,221 shares of the utilities provider’s stock after selling 200 shares during the quarter. Annex Advisory Services LLC’s holdings in Consolidated Edison were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc raised its position in shares of Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after buying an additional 27,850 shares during the last quarter. Morgan Stanley lifted 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 acquiring an additional 72,915 shares during the period. Norges Bank bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $243,511,000. Charles Schwab Investment Management Inc. increased its position in shares of Consolidated Edison by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,032,385 shares of the utilities provider’s stock valued at $184,886,000 after purchasing an additional 47,936 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Consolidated Edison by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 1,491,266 shares of the utilities provider’s stock valued at $127,548,000 after purchasing an additional 34,887 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

ED traded down $1.73 during midday trading on Tuesday, hitting $89.54. The company had a trading volume of 328,376 shares, compared to its average volume of 1,923,822. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $98.85. The company has a market capitalization of $30.97 billion, a PE ratio of 17.52, a P/E/G ratio of 2.29 and a beta of 0.35. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99. The firm’s 50-day simple moving average is $93.60 and its 200-day simple moving average is $91.19.

Consolidated Edison (NYSE:EDGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the business posted $1.83 earnings per share. Consolidated Edison’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on ED. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Mizuho upped their target price on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Scotiabank lowered their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. Finally, Morgan Stanley cut their target price on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research report on Monday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $89.27.

View Our Latest Research Report on Consolidated Edison

About Consolidated Edison

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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