Bleakley Financial Group LLC Sells 315 Shares of Consolidated Edison, Inc. (NYSE:ED)

Bleakley Financial Group LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,193 shares of the utilities provider’s stock after selling 315 shares during the period. Bleakley Financial Group LLC’s holdings in Consolidated Edison were worth $749,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Beacon Capital Management LLC grew its position in shares of Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Consolidated Edison during the 1st quarter valued at approximately $33,000. TruNorth Capital Management LLC purchased a new position in Consolidated Edison during the 2nd quarter valued at approximately $33,000. Versant Capital Management Inc increased its stake in Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 327 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth approximately $48,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock opened at $106.26 on Tuesday. The company has a market capitalization of $36.75 billion, a P/E ratio of 20.40, a P/E/G ratio of 3.46 and a beta of 0.36. The company’s 50-day simple moving average is $102.89 and its two-hundred day simple moving average is $96.80. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.10. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.61 EPS. As a group, equities analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analyst Upgrades and Downgrades

ED has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target on the stock. UBS Group upped their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison has an average rating of “Hold” and a consensus target price of $98.73.

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.