Kinloch Capital LLC Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Kinloch Capital LLC raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 40,646 shares of the utilities provider’s stock after purchasing an additional 1,464 shares during the period. Consolidated Edison accounts for about 1.8% of Kinloch Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Kinloch Capital LLC’s holdings in Consolidated Edison were worth $3,627,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Barclays PLC boosted its stake in shares of Consolidated Edison by 30.1% in the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock worth $128,279,000 after acquiring an additional 285,115 shares during the period. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Merit Financial Group LLC boosted its stake in Consolidated Edison by 54.0% in the 4th quarter. Merit Financial Group LLC now owns 9,133 shares of the utilities provider’s stock worth $815,000 after purchasing an additional 3,204 shares during the period. Sanibel Captiva Trust Company Inc. grew its holdings in Consolidated Edison by 38.7% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 3,389 shares of the utilities provider’s stock valued at $302,000 after buying an additional 945 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in shares of Consolidated Edison by 11.8% during the fourth quarter. HB Wealth Management LLC now owns 9,325 shares of the utilities provider’s stock valued at $832,000 after buying an additional 981 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ED. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. KeyCorp downgraded Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research report on Wednesday, May 14th. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Barclays upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.36.

Consolidated Edison Trading Up 1.0%

ED stock opened at $105.33 on Tuesday. The firm’s fifty day simple moving average is $108.51 and its two-hundred day simple moving average is $99.84. The stock has a market capitalization of $37.95 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. 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, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

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.