SBI Securities Co. Ltd. Buys 40,147 Shares of Consolidated Edison Inc $ED

SBI Securities Co. Ltd. grew its stake in Consolidated Edison Inc (NYSE:ED) by 1,028.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,051 shares of the utilities provider’s stock after acquiring an additional 40,147 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Consolidated Edison were worth $4,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Salomon & Ludwin LLC increased its stake in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 219 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares during the period. Bogart Wealth LLC grew its holdings in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after buying an additional 328 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at $38,000. Finally, Webster Bank N. A. raised its stake in Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after buying an additional 200 shares during the period. Institutional investors own 66.29% of the company’s stock.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ED shares. Wells Fargo & Company decreased their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Barclays decreased their price objective on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday, January 22nd. UBS Group raised their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Finally, KeyCorp dropped their price objective on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Reduce” and an average target price of $104.20.

Consolidated Edison Trading Up 0.8%

NYSE ED opened at $108.26 on Thursday. Consolidated Edison Inc has a 52 week low of $93.52 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The stock’s 50 day moving average price is $100.53 and its two-hundred day moving average price is $100.25. The stock has a market capitalization of $39.08 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.93 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period last year, the company earned $1.68 earnings per share. As a group, analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Consolidated Edison 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.