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

Yousif Capital Management LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 137,767 shares of the utilities provider’s stock after selling 4,640 shares during the period. Yousif Capital Management LLC’s holdings in Consolidated Edison were worth $12,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ED. Financial Gravity Asset Management Inc. lifted its holdings in shares of Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 194 shares during the period. Level Financial Advisors Inc. purchased a new position in shares of Consolidated Edison during the 3rd quarter worth about $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $29,000. Bruce G. Allen Investments LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $31,000. Finally, CVA Family Office LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $32,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ED. UBS Group cut their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Royal Bank of Canada cut 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 report on Friday, February 16th. Finally, Scotiabank cut their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.54.

Consolidated Edison Stock Up 0.9 %

Shares of ED stock traded up $0.81 during mid-day trading on Wednesday, reaching $93.65. 1,167,385 shares of the company were exchanged, compared to its average volume of 1,859,709. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market capitalization of $32.36 billion, a P/E ratio of 13.03, a P/E/G ratio of 8.75 and a beta of 0.35. The business’s 50 day simple moving average is $89.16 and its 200 day simple moving average is $89.80.

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

Consolidated Edison Dividend Announcement

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