Lion Street Advisors LLC Decreases Holdings in Consolidated Edison, Inc. (NYSE:ED)

Lion Street Advisors LLC reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ED. Capital Performance Advisors LLP purchased a new position in Consolidated Edison in the 3rd quarter worth $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the fourth quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $30,000. CGC Financial Services LLC grew its position in shares of Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after buying an additional 213 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Consolidated Edison during the third quarter valued at approximately $55,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE ED opened at $96.19 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a market capitalization of $33.32 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39. The stock’s fifty day moving average is $92.28 and its two-hundred day moving average is $98.15. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ED shares. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Finally, Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison 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.