Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,141 shares of the utilities provider’s stock after selling 2,084 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Consolidated Edison were worth $726,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in shares of Consolidated Edison by 1,766.0% in the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock worth $102,980,000 after acquiring an additional 935,962 shares during the last quarter. FMR LLC increased its position in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after purchasing an additional 572,530 shares during the last quarter. International Assets Investment Management LLC raised 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 period. National Bank of Canada FI boosted its holdings in shares of Consolidated Edison by 350.6% in 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 holdings in shares of Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

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

Consolidated Edison Stock Down 1.8 %

Shares of NYSE ED opened at $94.57 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The stock’s 50-day simple moving average is $91.89 and its 200-day simple moving average is $98.18. The firm has a market cap of $32.76 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 62.52%.

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.