Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 95.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 909 shares of the utilities provider’s stock after selling 19,080 shares during the quarter. Quest Partners LLC’s holdings in Consolidated Edison were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Syon Capital LLC raised its holdings in shares of Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares during the last quarter. G&S Capital LLC lifted its holdings in Consolidated Edison by 1.6% in the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 139 shares during the period. Checchi Capital Advisers LLC grew its position in Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after buying an additional 141 shares in the last quarter. Center For Asset Management LLC increased its stake in Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after buying an additional 147 shares during the period. Finally, Pinnacle West Asset Management Inc. raised its position in shares of Consolidated Edison by 5.1% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock worth $280,000 after buying an additional 148 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.2 %

ED stock opened at $104.60 on Wednesday. The firm has a market cap of $36.17 billion, a PE ratio of 20.08, a PEG ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The company has a fifty day simple moving average of $99.37 and a 200 day simple moving average of $94.40. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter last year, the firm posted $0.61 earnings per share. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were given a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.17%. Consolidated Edison’s dividend payout ratio is 63.72%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ED shares. UBS Group upped their price objective on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank boosted their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Morgan Stanley lifted their price target on shares of Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Four investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.65.

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.