Stifel Financial Corp Buys 4,625 Shares of Consolidated Edison, Inc. (NYSE:ED)

Stifel Financial Corp lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 116,515 shares of the utilities provider’s stock after purchasing an additional 4,625 shares during the quarter. Stifel Financial Corp’s holdings in Consolidated Edison were worth $10,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its position in shares of Consolidated Edison by 4.2% during the 4th 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 during the period. Richwood Investment Advisors LLC lifted its position in shares of Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after acquiring an additional 115 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider’s stock worth $205,000 after acquiring an additional 125 shares during the period. Trust Point Inc. grew its position 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 worth $249,000 after purchasing an additional 131 shares in the last quarter. Finally, Haverford Trust Co raised its stake in Consolidated Edison by 3.7% during the 4th quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent analyst reports. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Mizuho raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Citigroup boosted their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the company an “overweight” rating in a research report on Wednesday. Finally, Barclays boosted their target price on Consolidated Edison from $95.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $103.60.

Consolidated Edison Trading Down 0.8 %

ED opened at $110.42 on Friday. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average of $106.42 and a 200 day moving average of $99.52. The firm 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.

Consolidated Edison (NYSE:ED) last released its 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. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.08%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

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.