Syon Capital LLC Acquires 136 Shares of Consolidated Edison, Inc. (NYSE:ED)

Syon Capital LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,954 shares of the utilities provider’s stock after buying an additional 136 shares during the period. Syon Capital LLC’s holdings in Consolidated Edison were worth $542,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Newport Trust Company LLC bought a new stake in Consolidated Edison during the third quarter valued at about $51,134,000. International Assets Investment Management LLC raised its position in shares of Consolidated Edison by 9,063.6% during the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock valued at $47,216,000 after buying an additional 513,364 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the third quarter valued at about $39,556,000. Northern Trust Corp grew its position in Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after buying an additional 340,239 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Consolidated Edison in the 3rd quarter valued at approximately $28,156,000. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of a number of analyst reports. Scotiabank dropped their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Royal Bank of Canada decreased their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Barclays increased their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Finally, LADENBURG THALM/SH SH started coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.54.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $92.95 on Friday. The stock has a fifty day moving average of $89.52 and a 200-day moving average of $89.90. The stock has a market capitalization of $32.12 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 8.86 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.44.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.57%. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

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.