Sienna Gestion Sells 5,456 Shares of Consolidated Edison Inc (NYSE:ED)

Sienna Gestion decreased its position in Consolidated Edison Inc (NYSE:ED) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,259 shares of the utilities provider’s stock after selling 5,456 shares during the quarter. Sienna Gestion’s holdings in Consolidated Edison were worth $5,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ED. Deutsche Bank AG lifted its holdings in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after buying an additional 2,223,959 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Consolidated Edison during the 1st quarter worth $146,073,000. GAMMA Investing LLC lifted its stake in shares of Consolidated Edison by 15,937.5% during the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock worth $113,031,000 after purchasing an additional 1,015,700 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Consolidated Edison by 232.3% during the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock worth $93,989,000 after purchasing an additional 736,348 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $103.61 on Thursday. The company has a market cap of $37.37 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 3.31 and a beta of 0.24. The stock’s 50 day simple moving average is $101.70 and its 200-day simple moving average is $103.36. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%. During the same quarter last year, the business posted $0.59 earnings per share. As a group, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ED. Guggenheim upped their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Barclays set a $107.00 target price on Consolidated Edison and gave the stock an “underweight” rating in a research note on Wednesday. Scotiabank restated a “sector perform” rating and issued a $106.00 target price (up previously from $101.00) on shares of Consolidated Edison in a research note on Monday. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.30.

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.