Pacer Advisors Inc. Has $5.21 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Pacer Advisors Inc. lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,380 shares of the utilities provider's stock after selling 5,484 shares during the period. Pacer Advisors Inc.'s holdings in Consolidated Edison were worth $5,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ED. KBC Group NV raised its stake in Consolidated Edison by 11.1% during the 4th quarter. KBC Group NV now owns 46,095 shares of the utilities provider's stock worth $4,113,000 after buying an additional 4,588 shares during the period. Blue Trust Inc. raised its position in shares of Consolidated Edison by 78.1% during the fourth quarter. Blue Trust Inc. now owns 8,361 shares of the utilities provider's stock worth $746,000 after purchasing an additional 3,666 shares during the period. PFG Investments LLC raised its position in shares of Consolidated Edison by 0.3% during the fourth quarter. PFG Investments LLC now owns 64,246 shares of the utilities provider's stock worth $5,733,000 after purchasing an additional 172 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Consolidated Edison by 4.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,863 shares of the utilities provider's stock valued at $434,000 after purchasing an additional 220 shares in the last quarter. Finally, Marshall Financial Group LLC grew its position in shares of Consolidated Edison by 0.9% in the 4th quarter. Marshall Financial Group LLC now owns 26,995 shares of the utilities provider's stock valued at $2,409,000 after purchasing an additional 230 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on ED. Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price objective on the stock. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Barclays cut their price target on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and an average target price of $100.00.

Consolidated Edison Stock Up 0.0 %

Shares of NYSE:ED traded up $0.04 during midday trading on Friday, reaching $93.90. The company had a trading volume of 6,072,722 shares, compared to its average volume of 2,478,796. The business's 50 day moving average price is $92.58 and its 200 day moving average price is $98.03. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. 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 stock has a market cap of $32.53 billion, a PE ratio of 17.68, a P/E/G ratio of 2.95 and a beta of 0.38.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Research analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.62%. Consolidated Edison's dividend payout ratio is presently 62.52%.

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.