Vontobel Holding Ltd. Sells 119 Shares of Consolidated Edison, Inc. (NYSE:ED)

Vontobel Holding Ltd. cut its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,932 shares of the utilities provider’s stock after selling 119 shares during the quarter. Vontobel Holding Ltd.’s holdings in Consolidated Edison were worth $514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Retirement Planning Co of New England Inc. grew its holdings in shares of Consolidated Edison by 4.2% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Consolidated Edison by 13.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after buying an additional 100 shares in the last quarter. Brookstone Capital Management increased its holdings in Consolidated Edison by 0.6% in the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock valued at $2,517,000 after buying an additional 136 shares during the period. G&S Capital LLC raised its stake in shares of Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after buying an additional 139 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Consolidated Edison by 2.6% during the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 141 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $106.26 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $102.89 and a 200 day simple moving average of $96.80. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.10. The firm has a market cap 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.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $0.61 EPS. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ED shares. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Scotiabank upped their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note 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. Guggenheim upped their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.