Courier Capital LLC Sells 175 Shares of Consolidated Edison, Inc. (NYSE:ED)

Courier Capital LLC cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,465 shares of the utilities provider’s stock after selling 175 shares during the period. Courier Capital LLC’s holdings in Consolidated Edison were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $36,000. Wood Tarver Financial Group LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Citigroup upped their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. UBS Group upped their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. KeyCorp lowered Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research note on Wednesday, May 14th. Finally, Morgan Stanley lowered their target price on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.27.

Consolidated Edison Stock Up 1.2%

Shares of NYSE ED opened at $102.34 on Wednesday. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business’s fifty day moving average price is $106.96 and its 200-day moving average price is $100.45. The stock has a market capitalization of $36.87 billion, a PE ratio of 19.53, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period last year, the company posted $2.15 EPS. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.32%. Consolidated Edison’s dividend payout ratio (DPR) is 62.85%.

Consolidated Edison 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.