Bryn Mawr Capital Management LLC Sells 1,025 Shares of Consolidated Edison, Inc. (NYSE:ED)

Bryn Mawr Capital Management LLC reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 31.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,273 shares of the utilities provider’s stock after selling 1,025 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Consolidated Edison were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ED. Wilmington Savings Fund Society FSB bought a new position in Consolidated Edison in the 3rd quarter worth about $776,000. JPMorgan Chase & Co. lifted its holdings in shares of Consolidated Edison by 4.0% in 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 position in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after acquiring an additional 3,900 shares during the period. Gateway Investment Advisers LLC grew its stake in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after acquiring an additional 217,981 shares in the last quarter. Finally, National Pension Service grew its stake in Consolidated Edison by 7.0% during the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock valued at $48,792,000 after acquiring an additional 30,838 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ED. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Up 0.1 %

Shares of Consolidated Edison stock opened at $100.05 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company’s 50 day moving average price is $92.90 and its 200-day moving average price is $97.98. The stock has a market capitalization of $34.69 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 64.89%.

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.