Mather Group LLC. Cuts Stake in Consolidated Edison, Inc. (NYSE:ED)

Mather Group LLC. lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,328 shares of the utilities provider’s stock after selling 512 shares during the quarter. Mather Group LLC.’s holdings in Consolidated Edison were worth $475,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Welch Group LLC raised its position in Consolidated Edison by 0.7% during the 4th quarter. Welch Group LLC now owns 502,903 shares of the utilities provider’s stock worth $44,839,000 after buying an additional 3,614 shares during the last quarter. Trust Point Inc. raised its position in Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after buying an additional 131 shares during the last quarter. S.A. Mason LLC raised its position in Consolidated Edison by 26.9% during the 4th quarter. S.A. Mason LLC now owns 962 shares of the utilities provider’s stock worth $86,000 after buying an additional 204 shares during the last quarter. Chicago Capital LLC raised its position in Consolidated Edison by 9.2% during the 4th quarter. Chicago Capital LLC now owns 3,803 shares of the utilities provider’s stock worth $339,000 after buying an additional 320 shares during the last quarter. Finally, CGC Financial Services LLC raised its position in Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after buying an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ED. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. Finally, Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday. Two research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $96.19 on Thursday. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.99 and a beta of 0.39. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The company’s 50-day moving average price is $92.28 and its 200 day moving average price is $98.15. 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 results 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 net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 3.53%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.03%.

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.