Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,242 shares of the utilities provider’s stock after selling 471 shares during the period. Centaurus Financial Inc.’s holdings in Consolidated Edison were worth $546,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Consolidated Edison by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after acquiring an additional 28,254 shares in the last quarter. Hsbc Holdings PLC raised 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 acquiring an additional 11,785 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Consolidated Edison by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after acquiring an additional 125,859 shares during the last quarter. Swiss National Bank boosted its stake in Consolidated Edison by 0.3% in the third quarter. Swiss National Bank now owns 1,026,500 shares of the utilities provider’s stock valued at $106,889,000 after acquiring an additional 3,500 shares during the period. Finally, Clean Energy Transition LLP grew its holdings in shares of Consolidated Edison by 227.9% during the second 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. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ED. Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley decreased their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Bank of America boosted their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank lifted their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Finally, Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $98.19.

Consolidated Edison Stock Performance

Shares of ED opened at $101.72 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.01 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’s fifty day moving average is $101.85 and its 200-day moving average is $98.13. The firm has a market cap of $35.24 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 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 firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Equities analysts expect 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. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.26%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Consolidated Edison 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.