RIA Advisory Group LLC Has $571,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

RIA Advisory Group LLC reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,275 shares of the utilities provider’s stock after selling 1,407 shares during the period. RIA Advisory Group LLC’s holdings in Consolidated Edison were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ED. Geode Capital Management LLC raised its position in Consolidated Edison by 2.0% in the first quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider’s stock valued at $761,387,000 after purchasing an additional 154,945 shares during the last quarter. Legal & General Group Plc raised its position in shares of Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock worth $530,373,000 after acquiring an additional 27,850 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Consolidated Edison by 8.2% in the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after acquiring an additional 340,239 shares during the period. Morgan Stanley lifted its stake in shares of Consolidated Edison by 1.8% in the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock worth $361,069,000 after acquiring an additional 72,915 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of Consolidated Edison by 89,231.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock worth $395,142,000 after acquiring an additional 4,141,220 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

ED stock traded up $0.87 during midday trading on Friday, hitting $91.77. The company’s stock had a trading volume of 7,395,401 shares, compared to its average volume of 1,870,990. The stock’s 50-day moving average price is $88.91 and its 200 day moving average price is $89.55. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The stock has a market cap of $31.71 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 8.52 and a beta of 0.35.

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, topping 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 quarter in the previous year, the firm earned $0.81 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.62%. Consolidated Edison’s dividend payout ratio is currently 46.24%.

Analyst Ratings Changes

A number of equities analysts recently commented on ED shares. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Barclays lifted their target price on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. UBS Group lowered their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Finally, Royal Bank of Canada decreased their price objective on 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $87.96.

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.