Empower Advisory Group LLC Reduces Position in Consolidated Edison, Inc. (NYSE:ED)

Empower Advisory Group LLC cut its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 102,914 shares of the utilities provider’s stock after selling 784 shares during the period. Empower Advisory Group LLC’s holdings in Consolidated Edison were worth $10,716,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ED. Aigen Investment Management LP lifted its holdings in Consolidated Edison by 135.8% during the 3rd quarter. Aigen Investment Management LP now owns 41,881 shares of the utilities provider’s stock valued at $4,361,000 after buying an additional 24,118 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in Consolidated Edison by 11.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,615 shares of the utilities provider’s stock valued at $376,000 after buying an additional 365 shares in the last quarter. Entropy Technologies LP lifted its holdings in Consolidated Edison by 17.2% during the 3rd quarter. Entropy Technologies LP now owns 64,470 shares of the utilities provider’s stock valued at $6,713,000 after buying an additional 9,468 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the 3rd quarter valued at about $30,000. Finally, Los Angeles Capital Management LLC lifted its holdings in Consolidated Edison by 5.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 272,310 shares of the utilities provider’s stock valued at $28,356,000 after buying an additional 13,342 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ED shares. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Finally, Wells Fargo & Company boosted their price target 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. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.35.

Consolidated Edison Trading Down 0.8 %

NYSE ED opened at $95.41 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market cap of $33.05 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 3.26 and a beta of 0.36. The company has a 50 day moving average price of $103.16 and a 200 day moving average price of $98.02. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.