Greenleaf Trust lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,041 shares of the utilities provider’s stock after selling 179 shares during the quarter. Greenleaf Trust’s holdings in Consolidated Edison were worth $1,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $28,000. Sontag Advisory LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $30,000. Field & Main Bank acquired a new position in shares of Consolidated Edison in the 1st quarter worth approximately $30,000. Orrstown Financial Services Inc. acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $31,000. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Consolidated Edison in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 59.86% of the company’s stock.

Several brokerages have recently commented on ED. Morgan Stanley lifted their target price on Consolidated Edison from $86.00 to $87.00 and gave the stock an “underweight” rating in a research report on Thursday, May 16th. ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Bank of America upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $96.00 to $94.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. Mizuho began coverage on Consolidated Edison in a research report on Monday, March 11th. They issued a “neutral” rating and a $85.00 target price for the company. Finally, Credit Suisse Group set a $80.00 target price on Consolidated Edison and gave the stock a “sell” rating in a research report on Monday, April 22nd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Consolidated Edison has an average rating of “Hold” and an average target price of $78.92.

Shares of NYSE ED opened at $86.69 on Wednesday. The company has a market capitalization of $28.35 billion, a P/E ratio of 20.07, a P/E/G ratio of 9.99 and a beta of 0.13. Consolidated Edison, Inc. has a 12-month low of $71.12 and a 12-month high of $87.69. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 0.60.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a return on equity of 8.31% and a net margin of 11.03%. During the same quarter last year, the business posted $1.38 EPS. On average, research analysts forecast that Consolidated Edison, Inc. will post 4.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 68.52%.

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Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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

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