Cadence Capital Management LLC cut its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 12.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,166 shares of the utilities provider’s stock after selling 2,416 shares during the period. Cadence Capital Management LLC’s holdings in Consolidated Edison were worth $1,458,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Consolidated Edison by 5.5% in the 2nd quarter. FMR LLC now owns 260,507 shares of the utilities provider’s stock valued at $21,054,000 after purchasing an additional 13,651 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Consolidated Edison by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 610,002 shares of the utilities provider’s stock valued at $49,301,000 after purchasing an additional 5,108 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $947,000. Cubist Systematic Strategies LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $708,000. Finally, Scotia Capital Inc. lifted its stake in shares of Consolidated Edison by 26.8% in the 2nd quarter. Scotia Capital Inc. now owns 8,434 shares of the utilities provider’s stock valued at $682,000 after purchasing an additional 1,785 shares during the last quarter. 56.02% of the stock is owned by institutional investors.

Shares of Consolidated Edison, Inc. (NYSE ED) opened at $76.89 on Friday. Consolidated Edison, Inc. has a one year low of $72.63 and a one year high of $89.70. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $24,530.00, a P/E ratio of 19.27, a P/E/G ratio of 8.75 and a beta of 0.03.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.715 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.17%.

Several equities research analysts have recently issued reports on ED shares. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Thursday, January 18th. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Bank of America started coverage on Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 price target for the company. KeyCorp reissued a “hold” rating on shares of Consolidated Edison in a research note on Friday, October 20th. Finally, Guggenheim reissued a “hold” rating and set a $88.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $81.86.

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Consolidated Edison Company Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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