CENTRAL TRUST Co Has $525,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

CENTRAL TRUST Co lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,887 shares of the utilities provider’s stock after selling 617 shares during the period. CENTRAL TRUST Co’s holdings in Consolidated Edison were worth $525,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the 3rd quarter valued at $30,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $27,000. FSA Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter valued at approximately $55,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Consolidated Edison during the 3rd quarter worth $55,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 2.2 %

Shares of NYSE ED opened at $95.76 on Tuesday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The firm has a 50-day simple moving average of $92.49 and a two-hundred day simple moving average of $98.14. The company has a market cap of $33.17 billion, a P/E ratio of 18.03, a PEG ratio of 2.99 and a beta of 0.39. 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 (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Research analysts anticipate that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.55%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Wall Street Analysts Forecast Growth

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

Consolidated Edison 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.