NTV Asset Management LLC Sells 166 Shares of Consolidated Edison, Inc. (NYSE:ED)

NTV Asset Management LLC lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,430 shares of the utilities provider’s stock after selling 166 shares during the quarter. NTV Asset Management LLC’s holdings in Consolidated Edison were worth $312,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Consolidated Edison by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares during the period. Northern Trust Corp boosted its holdings in Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after purchasing an additional 340,239 shares during the last quarter. Morgan Stanley grew its position in Consolidated Edison by 1.8% in the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after purchasing an additional 72,915 shares in the last quarter. Invesco Ltd. increased its position in shares of Consolidated Edison by 4.5% in the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after acquiring an additional 129,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Consolidated Edison by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock worth $169,716,000 after purchasing an additional 26,910 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 0.3 %

Shares of NYSE ED traded up $0.31 during trading on Friday, hitting $95.56. 2,465,195 shares of the company traded hands, compared to its average volume of 2,284,421. The firm has a market capitalization of $33.02 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 8.99 and a beta of 0.34. The business’s fifty day moving average is $90.21 and its 200 day moving average is $90.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.44.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.40 billion. Consolidated Edison had a return on equity of 8.86% and a net margin of 12.43%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.83 EPS. Equities research analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ED. UBS Group dropped their target price 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. Scotiabank cut their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada lowered 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. Wells Fargo & Company increased their target price on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Barclays upped their price objective on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $87.75.

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.