Jamison Private Wealth Management Inc. Sells 297 Shares of Consolidated Edison, Inc. (NYSE:ED)

Jamison Private Wealth Management Inc. lessened its stake in Consolidated Edison, Inc. (NYSE:ED) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,317 shares of the utilities provider’s stock after selling 297 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Consolidated Edison were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ED. Benjamin F. Edwards & Company Inc. increased its position in shares of Consolidated Edison by 13.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 100 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Consolidated Edison by 5.0% in the second quarter. Thrivent Financial for Lutherans now owns 31,388 shares of the utilities provider’s stock worth $2,806,000 after buying an additional 1,489 shares in the last quarter. Marshall Wace LLP grew its position in Consolidated Edison by 142.2% during the second quarter. Marshall Wace LLP now owns 126,938 shares of the utilities provider’s stock valued at $11,351,000 after acquiring an additional 74,538 shares during the last quarter. AXA S.A. raised its stake in shares of Consolidated Edison by 1.3% during the second quarter. AXA S.A. now owns 37,282 shares of the utilities provider’s stock worth $3,334,000 after acquiring an additional 466 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Consolidated Edison by 5.5% in the 2nd quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock worth $63,413,000 after acquiring an additional 36,991 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ED. 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. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective on the stock. Scotiabank upgraded 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 decreased their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Finally, Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.64.

Consolidated Edison Stock Down 0.1 %

ED stock opened at $90.66 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. The business’s 50 day moving average price is $92.88 and its two-hundred day moving average price is $97.95. 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 (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm 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. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) 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.