Park National Corp OH Sells 130 Shares of Consolidated Edison, Inc. (NYSE:ED)

Park National Corp OH trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,251 shares of the utilities provider’s stock after selling 130 shares during the period. Park National Corp OH’s holdings in Consolidated Edison were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ED. Leavell Investment Management Inc. increased its stake in shares of Consolidated Edison by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 3,470 shares of the utilities provider’s stock valued at $328,000 after buying an additional 110 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Consolidated Edison by 4.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the utilities provider’s stock valued at $255,000 after buying an additional 115 shares during the period. Glenview State Bank Trust DEPT. increased its stake in shares of Consolidated Edison by 4.1% in the 3rd quarter. Glenview State Bank Trust DEPT. now owns 2,935 shares of the utilities provider’s stock valued at $277,000 after buying an additional 115 shares during the period. Northern Oak Wealth Management Inc. increased its stake in shares of Consolidated Edison by 15.5% in the 3rd quarter. Northern Oak Wealth Management Inc. now owns 929 shares of the utilities provider’s stock valued at $88,000 after buying an additional 125 shares during the period. Finally, Cleararc Capital Inc. increased its stake in shares of Consolidated Edison by 2.7% in the 3rd quarter. Cleararc Capital Inc. now owns 4,998 shares of the utilities provider’s stock valued at $472,000 after buying an additional 132 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Shares of Consolidated Edison stock opened at $88.63 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.58 and a debt-to-equity ratio of 1.01. Consolidated Edison, Inc. has a 12 month low of $73.29 and a 12 month high of $94.97. The business has a fifty day simple moving average of $87.98 and a 200 day simple moving average of $89.11. The stock has a market cap of $29.46 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 9.98 and a beta of 0.03.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm earned $1.57 earnings per share. Analysts expect that Consolidated Edison, Inc. will post 4.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.34%. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.

Several research firms have recently commented on ED. KeyCorp lifted their target price on Consolidated Edison from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lowered their target price on Consolidated Edison from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Monday, December 16th. Credit Suisse Group lowered their target price on Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating for the company in a research note on Tuesday, November 5th. Mizuho raised Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their target price for the company from $93.00 to $98.00 in a research note on Friday, October 25th. Finally, UBS Group lowered their target price on Consolidated Edison from $98.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Consolidated Edison presently has an average rating of “Hold” and an average target price of $91.41.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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