MGO One Seven LLC Buys 441 Shares of Consolidated Edison, Inc. (NYSE:ED)

by · The Markets Daily

MGO One Seven LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED – Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,235 shares of the utilities provider’s stock after buying an additional 441 shares during the quarter. MGO One Seven LLC’s holdings in Consolidated Edison were worth $467,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC grew its position in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares in the last quarter. Richwood Investment Advisors LLC lifted its position in Consolidated Edison by 2.3% during the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock worth $463,000 after buying an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its position in Consolidated Edison by 5.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after buying an additional 125 shares in the last quarter. Trust Point Inc. lifted its position in Consolidated Edison by 4.9% during the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after buying an additional 131 shares in the last quarter. Finally, Haverford Trust Co lifted its position in Consolidated Edison by 3.7% during the 4th quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider’s stock worth $331,000 after buying an additional 132 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. UBS Group upped their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Citigroup upped their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Finally, Barclays upped their target price on shares of Consolidated Edison from $95.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.60.

Get Our Latest Analysis on Consolidated Edison

Consolidated Edison Stock Down 0.8 %

Consolidated Edison stock opened at $110.42 on Monday. The stock has a market cap of $39.77 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company’s 50-day moving average price is $106.42 and its two-hundred day moving average price is $99.51.

Consolidated Edison (NYSE:ED – Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.08%. Consolidated Edison’s payout ratio is presently 64.89%.

Consolidated Edison Company Profile

(Free Report)

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.

Further Reading

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