Consolidated Edison, Inc. (NYSE:ED) Shares Sold by West Branch Capital LLC

West Branch Capital LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,070 shares of the utilities provider’s stock after selling 200 shares during the quarter. West Branch Capital LLC’s holdings in Consolidated Edison were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in Consolidated Edison in the second quarter worth approximately $25,000. FTB Advisors Inc. grew its position in Consolidated Edison by 220.2% in the second quarter. FTB Advisors Inc. now owns 285 shares of the utilities provider’s stock worth $25,000 after buying an additional 196 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in Consolidated Edison in the second quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in Consolidated Edison in the third quarter worth approximately $32,000. Finally, Salomon & Ludwin LLC acquired a new position in Consolidated Edison in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 59.80% of the company’s stock.

NYSE ED traded up $0.52 on Thursday, hitting $94.22. 617,716 shares of the stock were exchanged, compared to its average volume of 1,312,736. Consolidated Edison, Inc. has a 52-week low of $73.29 and a 52-week high of $94.97. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.62 and a quick ratio of 0.56. The company has a market capitalization of $30.98 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 10.74 and a beta of 0.07. The company’s 50-day moving average price is $92.11 and its two-hundred day moving average price is $88.14.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Consolidated Edison had a return on equity of 8.04% and a net margin of 10.71%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Equities analysts predict that Consolidated Edison, Inc. will post 4.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, November 12th. Consolidated Edison’s payout ratio is 68.52%.

ED has been the topic of several recent research reports. UBS Group lifted their price target on shares of Consolidated Edison from $96.00 to $98.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley decreased their price target on shares of Consolidated Edison from $90.00 to $89.00 and set an “underweight” rating on the stock in a research report on Thursday, October 17th. Credit Suisse Group decreased their price target on shares of Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Co lifted their price target on shares of Consolidated Edison from $94.00 to $95.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, KeyCorp lifted their price target on shares of Consolidated Edison from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $88.73.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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