Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,914 shares of the utilities provider’s stock after selling 300 shares during the quarter. Royal Fund Management LLC’s holdings in Consolidated Edison were worth $447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ED. MGO One Seven LLC increased its position in shares of Consolidated Edison by 2.1% in the third quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock valued at $490,000 after buying an additional 119 shares in the last quarter. Advisors Capital Management LLC raised its holdings in Consolidated Edison by 3.8% in the third quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock valued at $283,000 after buying an additional 122 shares during the period. Jeppson Wealth Management LLC grew its stake in Consolidated Edison by 1.6% during the fourth quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after buying an additional 125 shares during the period. Sandy Spring Bank increased its position in shares of Consolidated Edison by 11.4% in the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 125 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its stake in shares of Consolidated Edison by 4.9% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 2,764 shares of the utilities provider’s stock valued at $236,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $0.31 during trading hours on Friday, reaching $95.56. The company’s stock had a trading volume of 2,465,195 shares, compared to its average volume of 2,284,421. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.44. The company’s 50 day simple moving average is $90.06 and its 200 day simple moving average is $90.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a market cap of $33.02 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 8.97 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.86% and a net margin of 12.43%. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders 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 is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent research reports. UBS Group lowered their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Royal Bank of Canada lowered their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Barclays raised their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Scotiabank dropped their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Four 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. Based on data from MarketBeat.com, the company presently 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.