Tobam Increases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Tobam lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 27.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,823 shares of the utilities provider’s stock after buying an additional 398 shares during the quarter. Tobam’s holdings in Consolidated Edison were worth $190,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Retirement Planning Co of New England Inc. raised its holdings in Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after buying an additional 100 shares during the period. Syon Capital LLC lifted its position in shares of Consolidated Edison by 2.3% during the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Consolidated Edison by 0.6% during the 3rd quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock valued at $2,517,000 after acquiring an additional 136 shares during the period. Finally, G&S Capital LLC increased its holdings in Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 139 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ED has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Guggenheim boosted their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America increased their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Jefferies Financial Group started coverage on Consolidated Edison in a report on Wednesday. They issued a “hold” rating and a $108.00 price target on the stock. Finally, Scotiabank increased their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.96.

Consolidated Edison Stock Down 0.8 %

Shares of ED opened at $101.58 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The business has a fifty day moving average of $102.31 and a 200 day moving average of $95.92. The company has a market cap of $35.16 billion, a PE ratio of 19.76, a P/E/G ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a 52-week low of $85.15 and a 52-week high of $105.99.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $0.61 EPS. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.27%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is presently 64.59%.

Consolidated Edison Company 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.