Citigroup Inc. Has $67.44 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Citigroup Inc. reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 19.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 647,688 shares of the utilities provider’s stock after selling 159,174 shares during the period. Citigroup Inc.’s holdings in Consolidated Edison were worth $67,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the third quarter valued at approximately $27,000. Beacon Capital Management LLC lifted its stake in shares of Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the 3rd quarter worth $30,000. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison during the first quarter worth $33,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Consolidated Edison during the second quarter worth $33,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.3 %

NYSE ED opened at $98.36 on Friday. The stock has a market capitalization of $34.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.32 and a beta of 0.36. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The stock’s 50 day moving average price is $102.01 and its two-hundred day moving average price is $98.08. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for 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, analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share 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 given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ED. Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Barclays lowered their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Guggenheim boosted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.19.

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.