HM Payson & Co. Sells 332 Shares of Consolidated Edison, Inc. (NYSE:ED)

HM Payson & Co. cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 19.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,359 shares of the utilities provider’s stock after selling 332 shares during the quarter. HM Payson & Co.’s holdings in Consolidated Edison were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in shares of Consolidated Edison by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after acquiring an additional 123,654 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Consolidated Edison by 0.8% during the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after purchasing an additional 11,785 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after purchasing an additional 125,859 shares in the last quarter. Clean Energy Transition LLP increased its position in shares of Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after purchasing an additional 623,787 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Consolidated Edison by 14.6% during the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 91,559 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.7 %

Shares of Consolidated Edison stock opened at $100.00 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a market cap of $34.62 billion, a P/E ratio of 19.46, a PEG ratio of 3.47 and a beta of 0.36. The company’s fifty day simple moving average is $103.54 and its two-hundred day simple moving average is $97.61.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the prior year, the firm earned $0.61 earnings per share. Research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.32%. Consolidated Edison’s dividend payout ratio is presently 64.59%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ED. Barclays upped their target price on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank boosted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Guggenheim raised their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.73.

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.