Sentry Investment Management LLC Sells 194 Shares of Consolidated Edison, Inc. (NYSE:ED)

Sentry Investment Management LLC lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,809 shares of the utilities provider’s stock after selling 194 shares during the quarter. Sentry Investment Management LLC’s holdings in Consolidated Edison were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co raised its position in Consolidated Edison by 140.8% in the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock worth $3,361,000 after purchasing an additional 21,604 shares during the period. Pacer Advisors Inc. grew its stake in shares of Consolidated Edison by 169.9% during the fourth quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock valued at $5,487,000 after buying an additional 37,971 shares during the last quarter. Blackhawk Capital Partners LLC. purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $1,551,000. Mariner LLC lifted its stake in shares of Consolidated Edison by 24.9% in the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock valued at $7,844,000 after acquiring an additional 18,270 shares during the last quarter. Finally, Comerica Bank purchased a new stake in Consolidated Edison during the 3rd quarter valued at about $8,014,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ED shares. UBS Group decreased their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Scotiabank lifted their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, February 20th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Barclays boosted their price objective on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada dropped their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $87.96.

Consolidated Edison Trading Up 3.3 %

Shares of ED opened at $90.33 on Thursday. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 8.42 and a beta of 0.35. The firm’s 50-day moving average price is $88.87 and its 200-day moving average price is $89.54. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the firm posted $0.81 EPS. The business’s revenue was down 14.6% on a year-over-year basis. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

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.