Consolidated Edison, Inc. (NYSE:ED) Shares Bought by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. grew its position in Consolidated Edison, Inc. (NYSE:ED) by 60.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194 shares of the utilities provider’s stock after purchasing an additional 450 shares during the period. ST Germain D J Co. Inc.’s holdings in Consolidated Edison were worth $107,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Consolidated Edison in the third quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at about $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $55,000. FSA Wealth Management LLC acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $55,000. Finally, Webster Bank N. A. boosted its holdings in Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 379 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $88.19 on Friday. The firm has a market cap of $30.55 billion, a P/E ratio of 16.61, a P/E/G ratio of 3.11 and a beta of 0.38. The stock’s 50 day simple moving average is $94.15 and its 200 day simple moving average is $97.85. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75.

Consolidated Edison (NYSE:ED) last posted 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 the consensus estimate of $4.02 billion. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were paid a $0.83 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.76%. Consolidated Edison’s payout ratio is currently 62.52%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison has an average rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Company 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.