Huber Capital Management LLC Decreases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Huber Capital Management LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the utilities provider's stock after selling 2,939 shares during the period. Huber Capital Management LLC's holdings in Consolidated Edison were worth $535,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ED. United Bank acquired a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $227,000. FMR LLC boosted its stake in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after buying an additional 572,530 shares during the last quarter. Townsquare Capital LLC grew its holdings in Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after buying an additional 130 shares in the last quarter. Verition Fund Management LLC grew its holdings in Consolidated Edison by 231.1% in the 3rd quarter. Verition Fund Management LLC now owns 15,382 shares of the utilities provider's stock valued at $1,602,000 after buying an additional 10,736 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth $283,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ED. Morgan Stanley increased their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Scotiabank raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. UBS Group lifted their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $102.40.

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Consolidated Edison Stock Up 1.9 %

Shares of ED traded up $1.99 during mid-day trading on Tuesday, hitting $107.39. 689,801 shares of the company's stock were exchanged, compared to its average volume of 2,820,554. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $38.68 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 3.05 and a beta of 0.27. The stock's 50-day moving average is $101.64 and its 200-day moving average is $98.72. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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 company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.17%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison's payout ratio is presently 64.89%.

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.