Consolidated Edison, Inc. (NYSE:ED) Stock Position Lessened by Sawyer & Company Inc

Sawyer & Company Inc trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 885 shares of the utilities provider’s stock after selling 202 shares during the period. Sawyer & Company Inc’s holdings in Consolidated Edison were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Benjamin F. Edwards & Company Inc. increased its stake in Consolidated Edison by 13.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after buying an additional 100 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after acquiring an additional 104 shares during the period. D.A. Davidson & CO. raised its holdings in Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 124 shares in the last quarter. Townsquare Capital LLC raised its holdings in Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 130 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 136 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ED shares. Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Price Performance

ED opened at $90.22 on Thursday. The firm has a market capitalization of $31.25 billion, a P/E ratio of 16.99, a PEG ratio of 3.11 and a beta of 0.38. The stock has a fifty day moving average of $93.72 and a 200-day moving average of $97.90. 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.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Equities analysts forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Company 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.