Plimoth Trust Co. LLC Sells 150 Shares of Consolidated Edison Inc (NYSE:ED)

Plimoth Trust Co. LLC lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 1.2% in the 1st quarter, HoldingsChannel reports. The firm owned 11,911 shares of the utilities provider’s stock after selling 150 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Consolidated Edison were worth $1,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ED. Norges Bank purchased a new stake in Consolidated Edison in the fourth quarter worth $399,824,000. GAMMA Investing LLC grew its stake in shares of Consolidated Edison by 15,937.5% during the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock worth $113,031,000 after acquiring an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP increased its holdings in Consolidated Edison by 412.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider’s stock worth $97,564,000 after acquiring an additional 879,866 shares during the last quarter. Invesco Ltd. increased its holdings in Consolidated Edison by 27.9% in the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider’s stock worth $332,090,000 after acquiring an additional 812,885 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Consolidated Edison by 232.3% in the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock valued at $93,989,000 after acquiring an additional 736,348 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.7%

Shares of NYSE:ED opened at $100.66 on Thursday. The firm has a fifty day moving average price of $106.46 and a two-hundred day moving average price of $100.51. The company has a market cap of $36.27 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.23 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same quarter last year, the business posted $2.15 EPS. Analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of research reports. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a research note on Monday, May 5th. UBS Group lifted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Wells Fargo & Company increased their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Finally, Guggenheim raised their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $104.18.

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.