Yousif Capital Management LLC Acquires 3,827 Shares of Consolidated Edison, Inc. (NYSE:ED)

Yousif Capital Management LLC lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,412 shares of the utilities provider’s stock after purchasing an additional 3,827 shares during the quarter. Yousif Capital Management LLC’s holdings in Consolidated Edison were worth $15,086,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ED. Norges Bank acquired a new position in shares of Consolidated Edison in the fourth quarter valued at $399,824,000. GAMMA Investing LLC raised its stake in shares of Consolidated Edison by 15,937.5% in the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock valued at $113,031,000 after purchasing an additional 1,015,700 shares in the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Consolidated Edison by 412.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider’s stock valued at $97,564,000 after purchasing an additional 879,866 shares in the last quarter. Invesco Ltd. raised its stake in Consolidated Edison by 27.9% during the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider’s stock worth $332,090,000 after acquiring an additional 812,885 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Consolidated Edison by 232.3% during the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock worth $93,989,000 after acquiring an additional 736,348 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ED shares. UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Citigroup increased their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd. Guggenheim increased their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $104.27.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $101.11 on Tuesday. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market cap of $36.43 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. 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 business has a fifty day moving average of $107.16 and a 200-day moving average of $100.44.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the business posted $2.15 earnings per share. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.36%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is 62.85%.

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.