Caprock Group LLC Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Caprock Group LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 30.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,426 shares of the utilities provider’s stock after purchasing an additional 1,038 shares during the period. Caprock Group LLC’s holdings in Consolidated Edison were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ED. Capital Performance Advisors LLP purchased a new position in Consolidated Edison in the 3rd quarter valued at $27,000. Beacon Capital Management LLC lifted its stake in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison during the third quarter worth about $30,000. Pathway Financial Advisers LLC purchased a new stake in Consolidated Edison during the 1st quarter valued at about $33,000. Finally, TruNorth Capital Management LLC acquired a new stake in Consolidated Edison in the 2nd quarter valued at about $33,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

ED stock opened at $98.36 on Friday. The business’s fifty day moving average price is $102.01 and its 200 day moving average price is $98.08. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. 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 company has a market capitalization of $34.07 billion, a PE ratio of 18.52, a P/E/G ratio of 3.32 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.38%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ED. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays reduced their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Scotiabank upped their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, UBS Group lifted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $98.19.

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.