Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Aviva PLC

Aviva PLC lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,712 shares of the utilities provider's stock after selling 9,287 shares during the period. Aviva PLC owned about 0.14% of Consolidated Edison worth $43,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $27,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $36,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.6 %

NYSE:ED traded up $1.75 on Friday, hitting $110.05. 854,275 shares of the stock were exchanged, compared to its average volume of 2,213,156. The stock has a fifty day moving average of $102.89 and a 200-day moving average of $98.89. The stock has a market cap of $39.64 billion, a PE ratio of 20.99, a PEG ratio of 3.05 and a beta of 0.27. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

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Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.09%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison's dividend payout ratio is 64.89%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ED. Mizuho raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Citigroup boosted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Finally, Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $102.80.

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.