Lindbrook Capital LLC Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Lindbrook Capital LLC lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 169.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 835 shares of the utilities provider’s stock after buying an additional 525 shares during the quarter. Lindbrook Capital LLC’s holdings in Consolidated Edison were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ED. Ritholtz Wealth Management purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth about $202,000. Ballast Inc. grew its position in shares of Consolidated Edison by 2.7% in the 3rd quarter. Ballast Inc. now owns 13,329 shares of the utilities provider’s stock worth $1,140,000 after buying an additional 353 shares during the period. Advisory Alpha LLC boosted its stake in Consolidated Edison by 20.7% in the 3rd quarter. Advisory Alpha LLC now owns 3,343 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 574 shares in the last quarter. Welch Group LLC boosted its stake in Consolidated Edison by 1.1% in the 3rd quarter. Welch Group LLC now owns 464,929 shares of the utilities provider’s stock worth $39,765,000 after purchasing an additional 5,078 shares in the last quarter. Finally, Level Financial Advisors Inc. bought a new position in Consolidated Edison in the 3rd quarter worth about $26,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ED has been the topic of a number of analyst reports. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Royal Bank of Canada dropped their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. Barclays upped their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, UBS Group lowered their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.54.

Consolidated Edison Price Performance

NYSE ED opened at $93.43 on Thursday. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92. The firm has a market capitalization of $32.28 billion, a P/E ratio of 13.01, a PEG ratio of 8.75 and a beta of 0.35. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $89.29 and a 200-day moving average price of $89.83.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.55%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is 46.24%.

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.