Satovsky Asset Management LLC Sells 206 Shares of Consolidated Edison, Inc. (NYSE:ED)

Satovsky Asset Management LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,758 shares of the utilities provider’s stock after selling 206 shares during the period. Consolidated Edison accounts for 0.1% of Satovsky Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Satovsky Asset Management LLC’s holdings in Consolidated Edison were worth $335,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its position in Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after buying an additional 935,962 shares in the last quarter. FMR LLC increased its stake in Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after acquiring an additional 572,530 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the last quarter. National Bank of Canada FI increased its position in shares of Consolidated Edison by 350.6% during the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the last quarter. Finally, State Street Corp boosted its stake in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after buying an additional 399,034 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $95.17 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average of $91.91 and a 200 day moving average of $98.03. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.02 and a beta of 0.39. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.57%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

Analyst Ratings Changes

ED has been the topic of several recent research reports. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays reduced their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, January 27th. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.70.

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.