Stephens Inc. AR Sells 74,625 Shares of Consolidated Edison, Inc. (NYSE:ED)

Stephens Inc. AR decreased its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 82.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,318 shares of the utilities provider's stock after selling 74,625 shares during the period. Stephens Inc. AR's holdings in Consolidated Edison were worth $1,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ritholtz Wealth Management bought a new stake in shares of Consolidated Edison in the third quarter worth $211,000. Exchange Traded Concepts LLC grew its holdings in shares of Consolidated Edison by 36.2% in the third quarter. Exchange Traded Concepts LLC now owns 9,960 shares of the utilities provider's stock worth $1,037,000 after acquiring an additional 2,646 shares during the period. Creative Planning grew its holdings in shares of Consolidated Edison by 7.9% in the third quarter. Creative Planning now owns 98,928 shares of the utilities provider's stock worth $10,301,000 after acquiring an additional 7,269 shares during the period. McKinley Carter Wealth Services Inc. bought a new stake in shares of Consolidated Edison in the third quarter worth $205,000. Finally, Presima Securities ULC grew its holdings in shares of Consolidated Edison by 2.1% in the third quarter. Presima Securities ULC now owns 9,900 shares of the utilities provider's stock worth $1,031,000 after acquiring an additional 200 shares during the period. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

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

Consolidated Edison Trading Down 0.7 %

Shares of ED traded down $0.65 during mid-day trading on Friday, reaching $95.01. 1,948,209 shares of the company's stock traded hands, compared to its average volume of 2,415,540. The stock has a market cap of $32.91 billion, a P/E ratio of 17.89, a P/E/G ratio of 3.04 and a beta of 0.39. The stock's 50-day moving average is $91.84 and its two-hundred day moving average is $98.13. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.58%. Consolidated Edison's dividend payout ratio is currently 62.52%.

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.