Personal CFO Solutions LLC Sells 348 Shares of Consolidated Edison, Inc. (NYSE:ED)

Personal CFO Solutions LLC lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,821 shares of the utilities provider’s stock after selling 348 shares during the period. Personal CFO Solutions LLC’s holdings in Consolidated Edison were worth $252,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ED. Point72 Asset Management L.P. increased its position in 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 purchasing 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 valued at $132,081,000 after acquiring an additional 572,530 shares during the last quarter. National Bank of Canada FI increased its position in Consolidated Edison by 350.6% during the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after acquiring an additional 482,953 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC bought a new position in Consolidated Edison during the fourth quarter valued at $37,147,000. Finally, State Street Corp increased its position in Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after acquiring an additional 399,034 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. UBS Group boosted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. 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. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank upped their price target 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. Two 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 MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Trading Up 2.8 %

NYSE ED opened at $106.59 on Tuesday. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.97. The company’s 50-day moving average price is $94.74 and its 200-day moving average price is $98.05. The stock has a market cap of $36.96 billion, a PE ratio of 20.34, a PEG ratio of 3.05 and a beta of 0.30. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. 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 3.19%. Consolidated Edison’s dividend payout ratio is 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.