Consolidated Edison Inc $ED Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 45.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,029 shares of the utilities provider’s stock after selling 10,778 shares during the period. Stratos Wealth Partners LTD.’s holdings in Consolidated Edison were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Salomon & Ludwin LLC grew its position in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the last quarter. Bogart Wealth LLC boosted its stake in shares of Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Consolidated Edison in the 3rd quarter worth $38,000. True Wealth Design LLC raised its position in shares of Consolidated Edison by 392.1% during the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 396 shares during the period. Finally, Webster Bank N. A. lifted its holdings in shares of Consolidated Edison by 67.8% during the third quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 200 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 1.7%

Consolidated Edison stock opened at $113.59 on Monday. Consolidated Edison Inc has a twelve month low of $94.50 and a twelve month high of $114.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The firm has a market cap of $41.00 billion, a PE ratio of 19.86, a P/E/G ratio of 3.10 and a beta of 0.38. The firm’s 50 day moving average price is $102.16 and its two-hundred day moving average price is $100.59.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a research note on Friday, January 23rd. Morgan Stanley reissued an “underweight” rating and issued a $96.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. UBS Group raised their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $104.20.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.