J.W. Cole Advisors Inc. Decreases Holdings in Consolidated Edison, Inc. (NYSE:ED)

J.W. Cole Advisors Inc. reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,852 shares of the utilities provider’s stock after selling 638 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Consolidated Edison were worth $1,328,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ED. Syon Capital LLC increased its position in Consolidated Edison by 2.3% in the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after buying an additional 136 shares during the last quarter. G&S Capital LLC increased its holdings in Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 139 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 141 shares during the period. Center For Asset Management LLC lifted its holdings in Consolidated Edison by 3.5% during the second quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after purchasing an additional 147 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its position in Consolidated Edison by 5.1% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 148 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED opened at $104.56 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average price of $98.73 and a 200-day moving average price of $94.15. The company has a market cap of $36.19 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $0.61 earnings per share. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.18%. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ED. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Barclays increased their target price on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Finally, UBS Group lifted their target price on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $92.65.

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.