National Bank of Canada FI Reduces Stock Position in Consolidated Edison, Inc. (NYSE:ED)

National Bank of Canada FI trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 372,136 shares of the utilities provider's stock after selling 248,569 shares during the quarter. National Bank of Canada FI owned 0.11% of Consolidated Edison worth $33,212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ED. TD Private Client Wealth LLC raised its holdings in Consolidated Edison by 4.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock valued at $243,000 after buying an additional 104 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock worth $229,000 after purchasing an additional 104 shares during the period. Richwood Investment Advisors LLC boosted its holdings in shares of Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock worth $463,000 after purchasing an additional 115 shares during the period. Penobscot Investment Management Company Inc. grew its stake in shares of Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock worth $205,000 after purchasing an additional 125 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in Consolidated Edison by 2.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after purchasing an additional 130 shares during the period. 66.29% of the stock is owned by institutional investors.

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Consolidated Edison Stock Down 2.5 %

Shares of NYSE ED traded down $2.75 during trading on Monday, reaching $106.57. The company had a trading volume of 1,341,152 shares, compared to its average volume of 2,179,571. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The business's 50-day moving average is $101.43 and its 200 day moving average is $98.70. The stock has a market cap of $38.39 billion, a PE ratio of 20.31, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 11.93% and a return on equity of 8.62%. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Wednesday, February 19th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.19%. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ED shares. Scotiabank lifted their price objective 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. Mizuho lifted their price target 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. Morgan Stanley upped their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Barclays boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $102.40.

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.