Northstar Financial Companies Inc. Trims Stake in Consolidated Edison Inc $ED

Northstar Financial Companies Inc. cut its position in shares of Consolidated Edison Inc (NYSE:ED) by 40.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,307 shares of the utilities provider’s stock after selling 5,589 shares during the period. Northstar Financial Companies Inc.’s holdings in Consolidated Edison were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its position in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Meadowbrook Wealth Management LLC grew its stake in Consolidated Edison by 2.2% in the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares during the last quarter. bLong Financial LLC raised its holdings in Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 100 shares in the last quarter. Sachetta LLC raised its holdings in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in shares of Consolidated Edison by 1.6% during the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after buying an additional 105 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 0.3%

NYSE:ED opened at $112.11 on Wednesday. The company has a market cap of $41.31 billion, a PE ratio of 18.87, a P/E/G ratio of 2.84 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $108.18 and its two-hundred day moving average is $108.39.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. Consolidated Edison’s payout ratio is 59.76%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. KeyCorp boosted their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Barclays decreased their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.