Andra AP fonden Sells 84,400 Shares of Consolidated Edison Inc $ED

Andra AP fonden lowered its stake in Consolidated Edison Inc (NYSE:ED) by 97.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the utilities provider’s stock after selling 84,400 shares during the period. Andra AP fonden’s holdings in Consolidated Edison were worth $226,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ED. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter worth $26,000. JPL Wealth Management LLC bought a new position in Consolidated Edison in the 3rd quarter valued at $26,000. Westfuller Advisors LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at $27,000. Sachetta LLC increased its stake in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the period. Finally, Dorato Capital Management bought a new stake in shares of Consolidated Edison during the fourth quarter worth $28,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ED. Evercore set a $116.00 price target on Consolidated Edison in a research note on Monday, May 11th. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research report on Tuesday, April 21st. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday. Barclays cut their target price on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $107.87.

Consolidated Edison Stock Up 0.6%

NYSE:ED opened at $112.81 on Friday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $41.58 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.91 and a beta of 0.27. The stock’s fifty day simple moving average is $108.89 and its 200-day simple moving average is $108.98.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.1%. Consolidated Edison’s dividend payout ratio is presently 59.76%.

About Consolidated Edison

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.