Godshalk Welsh Capital Management Inc. Decreases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Godshalk Welsh Capital Management Inc. cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,500 shares of the utilities provider’s stock after selling 275 shares during the period. Godshalk Welsh Capital Management Inc.’s holdings in Consolidated Edison were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth about $776,000. JPMorgan Chase & Co. boosted its holdings in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Consolidated Edison by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after acquiring an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after purchasing an additional 217,981 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Consolidated Edison by 81.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after acquiring an additional 4,451 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.8 %

Consolidated Edison stock opened at $107.41 on Thursday. The stock has a market capitalization of $37.25 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $109.36. The company has a 50 day moving average of $98.95 and a 200-day moving average of $98.46. 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 (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.17%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

Analyst Ratings Changes

ED has been the subject of a number of research analyst reports. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.40.

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.