Central Pacific Bank Trust Division Sells 460 Shares of Consolidated Edison, Inc. (NYSE:ED)

Central Pacific Bank Trust Division lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 41.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 650 shares of the utilities provider’s stock after selling 460 shares during the period. Central Pacific Bank Trust Division’s holdings in Consolidated Edison were worth $68,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clean Energy Transition LLP raised its stake in Consolidated Edison by 227.9% in the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after buying an additional 623,787 shares during the period. Acadian Asset Management LLC grew its position in shares of Consolidated Edison by 302.3% in the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider’s stock valued at $63,396,000 after purchasing an additional 532,893 shares during the last quarter. AMF Tjanstepension AB grew its position in shares of Consolidated Edison by 243.2% in the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider’s stock valued at $44,564,000 after purchasing an additional 352,903 shares during the last quarter. Swedbank AB acquired a new stake in Consolidated Edison during the first quarter worth approximately $30,515,000. Finally, LPL Financial LLC boosted its holdings in shares of Consolidated Edison by 101.3% in the 2nd quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock valued at $54,242,000 after purchasing an additional 305,291 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.8 %

ED stock traded down $0.87 during mid-day trading on Friday, reaching $103.15. 952,852 shares of the company traded hands, compared to its average volume of 1,826,538. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.52 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a fifty-two week low of $82.66 and a fifty-two week high of $105.99. The firm’s 50 day moving average price is $102.05 and its 200 day moving average price is $95.60.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.22%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ED. Guggenheim raised their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Argus raised Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Scotiabank raised their target price on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, UBS Group raised their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.88.

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.