Bfsg LLC Invests $71,000 in Consolidated Edison, Inc. (NYSE:ED)

Bfsg LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 777 shares of the utilities provider’s stock, valued at approximately $71,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $299,000. SlateStone Wealth LLC boosted its holdings in Consolidated Edison by 2.4% in the fourth quarter. SlateStone Wealth LLC now owns 7,146 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 165 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Consolidated Edison by 6.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 254,088 shares of the utilities provider’s stock valued at $23,114,000 after acquiring an additional 14,587 shares in the last quarter. Foster & Motley Inc. bought a new stake in Consolidated Edison in the fourth quarter valued at $365,000. Finally, Duality Advisers LP bought a new stake in Consolidated Edison in the fourth quarter valued at $2,082,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Scotiabank cut their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday. Barclays boosted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. UBS Group dropped their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Finally, LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.54.

Consolidated Edison Trading Up 0.7 %

Shares of NYSE:ED opened at $94.11 on Friday. The stock has a 50 day moving average of $89.41 and a 200 day moving average of $89.86. The company has a market cap of $32.52 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 8.79 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.44.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue was down 14.6% on a year-over-year basis. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.53%. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

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.