Sanctuary Advisors LLC Has $4.73 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Sanctuary Advisors LLC decreased its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,384 shares of the utilities provider's stock after selling 4,934 shares during the quarter. Sanctuary Advisors LLC's holdings in Consolidated Edison were worth $4,729,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Raymond James & Associates grew its position in Consolidated Edison by 20.1% during the 3rd quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider's stock worth $19,800,000 after acquiring an additional 31,761 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Consolidated Edison by 22.7% in the third quarter. Sequoia Financial Advisors LLC now owns 12,535 shares of the utilities provider's stock worth $1,305,000 after purchasing an additional 2,317 shares in the last quarter. Eastern Bank bought a new stake in shares of Consolidated Edison during the third quarter worth $435,000. Greenleaf Trust increased its stake in shares of Consolidated Edison by 17.5% in the third quarter. Greenleaf Trust now owns 8,147 shares of the utilities provider's stock valued at $848,000 after buying an additional 1,215 shares in the last quarter. Finally, Lake Street Private Wealth LLC bought a new position in shares of Consolidated Edison in the third quarter valued at about $215,000. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ED has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and boosted their price objective for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Morgan Stanley lowered their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. Finally, Barclays lowered their price objective on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $100.70.

Consolidated Edison Trading Up 2.6 %

NYSE:ED traded up $2.51 on Friday, reaching $98.27. The company's stock had a trading volume of 4,414,776 shares, compared to its average volume of 2,460,125. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The business's 50-day moving average price is $91.98 and its two-hundred day moving average price is $98.02. The firm has a market cap of $34.04 billion, a PE ratio of 18.51, a PEG ratio of 3.04 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.46%. Consolidated Edison's payout ratio is presently 64.03%.

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.