Barclays PLC Sells 182,273 Shares of Consolidated Edison, Inc. (NYSE:ED)

Barclays PLC lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,049,651 shares of the utilities provider’s stock after selling 182,273 shares during the quarter. Barclays PLC owned 0.30% of Consolidated Edison worth $93,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in Consolidated Edison during the 3rd quarter valued at about $216,000. M&T Bank Corp boosted its stake in shares of Consolidated Edison by 5.0% during the third quarter. M&T Bank Corp now owns 58,398 shares of the utilities provider’s stock valued at $6,081,000 after purchasing an additional 2,795 shares during the period. World Investment Advisors LLC bought a new position in shares of Consolidated Edison in the third quarter worth approximately $453,000. Sfmg LLC purchased a new position in shares of Consolidated Edison in the third quarter worth $208,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Consolidated Edison during the 3rd quarter valued at $776,000. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ED. Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Morgan Stanley raised their price target on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Finally, Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $102.80.

Consolidated Edison Trading Down 0.4 %

NYSE:ED opened at $111.79 on Wednesday. The firm has a market capitalization of $40.27 billion, a P/E ratio of 21.33, a PEG ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The company’s 50-day simple moving average is $103.83 and its 200 day simple moving average is $99.05.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid 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 3.04%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

About Consolidated Edison

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.