SG Americas Securities LLC Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

SG Americas Securities LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 30.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,923 shares of the utilities provider’s stock after buying an additional 20,172 shares during the period. SG Americas Securities LLC’s holdings in Consolidated Edison were worth $7,803,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC boosted its holdings in Consolidated Edison by 0.6% in the 1st quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 108 shares during the period. Jeppson Wealth Management LLC boosted its holdings in Consolidated Edison by 1.6% in the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock valued at $702,000 after purchasing an additional 125 shares during the period. Sandy Spring Bank raised its position in shares of Consolidated Edison by 11.4% during the 4th quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after buying an additional 125 shares in the last quarter. Syon Capital LLC raised its position in shares of Consolidated Edison by 2.3% during the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares in the last quarter. Finally, G&S Capital LLC raised its position in shares of Consolidated Edison by 1.6% during the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ED. Mizuho raised their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Barclays raised their price objective on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Scotiabank decreased their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.27.

Consolidated Edison Trading Up 0.8 %

Consolidated Edison stock traded up $0.73 during trading hours on Friday, reaching $92.19. The stock had a trading volume of 1,222,858 shares, compared to its average volume of 1,366,931. The stock has a market cap of $31.88 billion, a PE ratio of 17.69, a PEG ratio of 2.32 and a beta of 0.34. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The company has a fifty day simple moving average of $92.66 and a 200-day simple moving average of $91.06.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. Analysts forecast that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Tuesday, May 14th. Consolidated Edison’s payout ratio is 63.72%.

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.