Consolidated Edison, Inc. (NYSE:ED) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC trimmed its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 46.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,874 shares of the utilities provider's stock after selling 5,195 shares during the quarter. RWA Wealth Partners LLC's holdings in Consolidated Edison were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Scotiabank raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Barclays lifted their price objective 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. Morgan Stanley boosted their target price 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. UBS Group raised their price target 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, Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $102.40.

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Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $3.19 on Friday, hitting $109.53. The company had a trading volume of 6,395,484 shares, compared to its average volume of 2,182,709. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company has a market cap of $39.45 billion, a PE ratio of 20.90, a PEG ratio of 3.05 and a beta of 0.27. The business has a 50-day simple moving average of $101.43 and a 200-day simple moving average of $98.70.

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 analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. The ex-dividend date of this dividend 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 yield of 3.10%. Consolidated Edison's payout ratio is 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.