Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,585 shares of the utilities provider’s stock after selling 2,928 shares during the period. Yousif Capital Management LLC’s holdings in Consolidated Edison were worth $11,831,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. James J. Burns & Company LLC lifted its position in shares of Consolidated Edison by 61.6% during the 4th quarter. James J. Burns & Company LLC now owns 9,947 shares of the utilities provider’s stock valued at $888,000 after acquiring an additional 3,790 shares during the last quarter. Welch Group LLC raised its position in shares of Consolidated Edison by 0.7% during the fourth quarter. Welch Group LLC now owns 502,903 shares of the utilities provider’s stock worth $44,839,000 after purchasing an additional 3,614 shares during the period. Trust Point Inc. lifted its holdings in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 131 shares during the last quarter. S.A. Mason LLC boosted its position in shares of Consolidated Edison by 26.9% in the 4th quarter. S.A. Mason LLC now owns 962 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 204 shares during the period. Finally, Chicago Capital LLC increased its stake in Consolidated Edison by 9.2% in the 4th quarter. Chicago Capital LLC now owns 3,803 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 320 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ED. Barclays decreased their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Trading Up 1.3 %

Shares of NYSE ED opened at $96.19 on Thursday. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.99 and a beta of 0.39. The business has a 50 day simple moving average of $92.28 and a 200 day simple moving average of $98.15. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, research analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 64.03%.

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.