Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Diversified Trust Co

Diversified Trust Co decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,437 shares of the utilities provider’s stock after selling 1,513 shares during the quarter. Diversified Trust Co’s holdings in Consolidated Edison were worth $3,218,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its position in Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $29,000. Tidemark LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $29,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Barclays increased their target price on Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Morgan Stanley reduced their target price on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. Wells Fargo & Company raised their price objective on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, Mizuho raised their price objective on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $89.27.

Consolidated Edison Stock Performance

ED stock opened at $88.83 on Tuesday. 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 stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.27 and a beta of 0.34. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $98.85. The stock’s fifty day moving average is $93.56 and its two-hundred day moving average is $91.11.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

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.