Aptus Capital Advisors LLC Sells 106 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aptus Capital Advisors LLC cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,578 shares of the utilities provider’s stock after selling 106 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Consolidated Edison were worth $581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its holdings in shares of Consolidated Edison by 10,302.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after buying an additional 24,211 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Consolidated Edison by 17,683.9% during the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock valued at $904,000 after buying an additional 9,903 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Consolidated Edison by 74.5% during the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 7,324 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Consolidated Edison by 162.1% during the 1st quarter. Acadian Asset Management LLC now owns 176,279 shares of the utilities provider’s stock valued at $15,999,000 after buying an additional 109,035 shares during the period. Finally, Czech National Bank lifted its holdings in shares of Consolidated Edison by 8.5% during the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares during the period. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ED. Scotiabank upped their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.35.

Consolidated Edison Stock Up 1.2 %

Shares of NYSE:ED opened at $96.43 on Friday. 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, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a 50-day moving average price of $102.81 and a 200 day moving average price of $97.98. The company has a market cap of $33.40 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.21 and a beta of 0.36.

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. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.52%.

Consolidated Edison Company 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.