Consolidated Edison Inc $ED Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in Consolidated Edison Inc (NYSE:ED) by 30.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,230 shares of the utilities provider’s stock after selling 95,687 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Consolidated Edison worth $22,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Consolidated Edison by 3.7% during the 3rd quarter. Parallel Advisors LLC now owns 16,108 shares of the utilities provider’s stock worth $1,646,000 after buying an additional 575 shares during the period. Alps Advisors Inc. increased its stake in shares of Consolidated Edison by 3.5% in the 3rd quarter. Alps Advisors Inc. now owns 34,899 shares of the utilities provider’s stock valued at $3,567,000 after acquiring an additional 1,180 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Consolidated Edison by 26.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,597 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 539 shares during the period. Heritage Family Offices LLP lifted its position in shares of Consolidated Edison by 8.1% during the 3rd quarter. Heritage Family Offices LLP now owns 2,265 shares of the utilities provider’s stock valued at $232,000 after acquiring an additional 169 shares during the period. Finally, Calamos Wealth Management LLC lifted its position in shares of Consolidated Edison by 10.0% during the 3rd quarter. Calamos Wealth Management LLC now owns 10,639 shares of the utilities provider’s stock valued at $1,087,000 after acquiring an additional 970 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on ED shares. The Goldman Sachs Group cut their target price on shares of Consolidated Edison from $106.00 to $102.00 in a research note on Thursday, October 15th. Bank of America decreased their price target on shares of Consolidated Edison from $105.00 to $96.00 in a research note on Friday, October 2nd. Evercore dropped their price objective on shares of Consolidated Edison from $116.00 to $112.00 in a report on Thursday, October 8th. HSBC initiated coverage on shares of Consolidated Edison in a research report on Thursday, October 22nd. They set a “hold” rating and a $104.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $118.00 to $134.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average price target of $109.74.

Consolidated Edison Trading Down 0.1%

NYSE ED opened at $119.14 on Thursday. The company has a market cap of $44.22 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 4.13 and a beta of 0.23. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $122.75. The business has a 50 day moving average price of $109.61 and a 200-day moving average price of $109.58. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.02.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. Consolidated Edison had a return on equity of 8.58% and a net margin of 12.70%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the business earned $1.90 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.0%. Consolidated Edison’s dividend payout ratio is presently 56.80%.

Consolidated Edison Company Profile

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.