BCM Advisors LLC Decreases Holdings in Consolidated Edison, Inc. (NYSE:ED)

BCM Advisors LLC cut its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,218 shares of the utilities provider's stock after selling 4,056 shares during the period. Consolidated Edison comprises about 1.0% of BCM Advisors LLC's holdings, making the stock its 17th largest holding. BCM Advisors LLC's holdings in Consolidated Edison were worth $4,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Assetmark Inc. raised its stake in Consolidated Edison by 1.5% in the fourth quarter. Assetmark Inc. now owns 604,376 shares of the utilities provider's stock valued at $53,929,000 after buying an additional 8,818 shares in the last quarter. Victory Capital Management Inc. raised its stake in Consolidated Edison by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 668,076 shares of the utilities provider's stock valued at $59,612,000 after buying an additional 152,843 shares in the last quarter. Keybank National Association OH raised its stake in Consolidated Edison by 2.4% in the fourth quarter. Keybank National Association OH now owns 9,117 shares of the utilities provider's stock valued at $814,000 after buying an additional 213 shares in the last quarter. SWS Partners raised its stake in Consolidated Edison by 11.7% in the fourth quarter. SWS Partners now owns 20,563 shares of the utilities provider's stock valued at $1,835,000 after buying an additional 2,150 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Consolidated Edison by 198.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 21,424 shares of the utilities provider's stock valued at $1,911,000 after buying an additional 14,234 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ED has been the topic of a number of research analyst reports. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Morgan Stanley cut their target price 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 $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Two 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $101.50.

Consolidated Edison Stock Performance

ED stock traded up $2.82 during trading on Friday, hitting $103.73. The company had a trading volume of 2,865,756 shares, compared to its average volume of 2,740,435. The firm has a market cap of $35.97 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.75. The firm has a 50-day moving average price of $94.39 and a 200-day moving average price of $98.04. 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 (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Wednesday, February 19th. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is currently 64.89%.

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.