Ameritas Advisory Services LLC Has $233,000 Stock Holdings in Consolidated Edison Inc $ED

Ameritas Advisory Services LLC lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 82.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,322 shares of the utilities provider’s stock after selling 10,612 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Consolidated Edison were worth $233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock worth $7,320,000 after purchasing an additional 8,562 shares during the period. Bryce Point Capital LLC bought a new stake in Consolidated Edison in the third quarter worth about $556,000. Sumitomo Mitsui Trust Group Inc. raised its position in Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after acquiring an additional 29,606 shares during the period. Atlantic Union Bankshares Corp boosted its stake in Consolidated Edison by 46.7% in the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Nuance Investments LLC purchased a new position in Consolidated Edison in the third quarter valued at about $4,017,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 1.7%

ED stock opened at $113.59 on Tuesday. The company’s 50 day moving average is $102.53 and its 200 day moving average is $100.66. The stock has a market cap of $41.00 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a 1-year low of $94.50 and a 1-year high of $114.87.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. Consolidated Edison’s dividend payout ratio is 59.44%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ED shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. KeyCorp cut their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. JPMorgan Chase & Co. decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Barclays cut their target price on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday, January 22nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $96.00 price objective on shares of Consolidated Edison in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $104.20.

Insider Activity

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Consolidated Edison Company 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.