Community Bank N.A. Cuts Position in Consolidated Edison, Inc. (NYSE:ED)

Community Bank N.A. decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 36.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,600 shares of the utilities provider’s stock after selling 1,460 shares during the period. Community Bank N.A.’s holdings in Consolidated Edison were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $27,000. OFI Invest Asset Management acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $36,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of a number of research reports. Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Finally, Morgan Stanley raised their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $102.40.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $107.85 on Monday. The firm’s 50-day simple moving average is $97.91 and its 200 day simple moving average is $98.36. The stock has a market cap of $37.40 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $109.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

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.