City State Bank Buys 452 Shares of Consolidated Edison, Inc. (NYSE:ED)

City State Bank boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,691 shares of the utilities provider’s stock after purchasing an additional 452 shares during the period. City State Bank’s holdings in Consolidated Edison were worth $419,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in Consolidated Edison by 101.3% during the 2nd quarter. LPL Financial LLC now owns 606,594 shares of the utilities provider’s stock worth $54,242,000 after acquiring an additional 305,291 shares during the last quarter. BOKF NA grew its holdings in shares of Consolidated Edison by 88.3% during the second quarter. BOKF NA now owns 5,083 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 2,384 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Consolidated Edison by 3.0% in the second quarter. Oppenheimer & Co. Inc. now owns 22,188 shares of the utilities provider’s stock valued at $1,984,000 after buying an additional 655 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Consolidated Edison by 15.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 236,317 shares of the utilities provider’s stock valued at $21,210,000 after buying an additional 31,698 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in Consolidated Edison by 32.1% during the 2nd quarter. Meeder Advisory Services Inc. now owns 9,473 shares of the utilities provider’s stock worth $847,000 after buying an additional 2,301 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.5 %

Shares of NYSE:ED traded down $0.40 during mid-day trading on Monday, hitting $87.75. The company had a trading volume of 313,124 shares, compared to its average volume of 1,804,837. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The firm has a fifty day moving average price of $94.15 and a 200 day moving average price of $97.91. The company has a market capitalization of $30.40 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.83 per share. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.78%. Consolidated Edison’s dividend payout ratio is 62.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays decreased their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Morgan Stanley reduced their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, UBS Group upped their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $100.64.

About Consolidated Edison

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.