West Family Investments Inc. Has $824,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

West Family Investments Inc. lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,063 shares of the utilities provider’s stock after selling 287 shares during the period. West Family Investments Inc.’s holdings in Consolidated Edison were worth $824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ED. Valeo Financial Advisors LLC boosted its stake in shares of Consolidated Edison by 13.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,557 shares of the utilities provider’s stock worth $219,000 after buying an additional 305 shares during the last quarter. Xponance Inc. raised its holdings in Consolidated Edison by 9.0% during the 3rd quarter. Xponance Inc. now owns 53,525 shares of the utilities provider’s stock valued at $4,578,000 after acquiring an additional 4,419 shares during the period. Dakota Wealth Management bought a new stake in Consolidated Edison during the 3rd quarter valued at $617,000. FinTrust Capital Advisors LLC raised its holdings in Consolidated Edison by 13.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,579 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 182 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Consolidated Edison by 6.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 110,604 shares of the utilities provider’s stock valued at $9,460,000 after acquiring an additional 6,715 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.2 %

NYSE ED traded down $0.15 during trading on Thursday, hitting $94.65. 678,721 shares of the company’s stock traded hands, compared to its average volume of 1,874,557. The stock has a fifty day moving average of $89.91 and a two-hundred day moving average of $90.04. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.44. The firm has a market cap of $32.70 billion, a P/E ratio of 13.20, a PEG ratio of 8.89 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company’s revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.51%. Consolidated Edison’s dividend payout ratio is currently 46.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ED. Scotiabank lowered their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. UBS Group decreased their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Barclays upped their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Royal Bank of Canada decreased their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.54.

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.