Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Lion Street Advisors LLC

Lion Street Advisors LLC lessened its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,418 shares of the utilities provider’s stock after selling 150 shares during the period. Lion Street Advisors LLC’s holdings in Consolidated Edison were worth $305,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Czech National Bank raised its holdings in shares of Consolidated Edison by 6.9% during the third quarter. Czech National Bank now owns 70,450 shares of the utilities provider’s stock worth $7,336,000 after purchasing an additional 4,548 shares during the period. GAMMA Investing LLC increased its stake in shares of Consolidated Edison by 30.2% during the third quarter. GAMMA Investing LLC now owns 6,481 shares of the utilities provider’s stock valued at $675,000 after acquiring an additional 1,505 shares during the period. Evanson Asset Management LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at $229,000. Brookstone Capital Management raised its position in Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after acquiring an additional 136 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Consolidated Edison during the third quarter valued at approximately $55,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 1.3 %

Shares of NYSE:ED opened at $96.19 on Thursday. The company has a market capitalization of $33.32 billion, a P/E ratio of 18.12, a P/E/G ratio of 2.99 and a beta of 0.39. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business’s 50 day simple moving average is $92.28 and its 200 day simple moving average is $98.15.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.03%.

Analyst Ratings Changes

A number of research firms recently commented on ED. Barclays decreased their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Finally, Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.00.

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.