DGS Capital Management LLC Has $727,000 Position in Consolidated Edison, Inc. (NYSE:ED)

DGS Capital Management LLC increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,149 shares of the utilities provider’s stock after acquiring an additional 1,035 shares during the quarter. DGS Capital Management LLC’s holdings in Consolidated Edison were worth $727,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ED. Capital Performance Advisors LLP bought a new stake in Consolidated Edison in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison in the third quarter valued at approximately $30,000. Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $55,000. FSA Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter worth approximately $55,000. Finally, Webster Bank N. A. lifted its holdings in shares of Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 379 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group started coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Barclays cut their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.64.

Consolidated Edison Price Performance

NYSE ED opened at $90.66 on Friday. The company has a market cap of $31.41 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $92.99 and its two-hundred day simple moving average is $97.93. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Research analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.75%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

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.