32,615 Shares of Consolidated Edison Inc $ED Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in shares of Consolidated Edison Inc (NYSE:ED) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,615 shares of the utilities provider’s stock, valued at approximately $3,334,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ED. PFS Partners LLC grew its stake in shares of Consolidated Edison by 12.2% in the 3rd quarter. PFS Partners LLC now owns 836 shares of the utilities provider’s stock valued at $85,000 after buying an additional 91 shares during the period. Cornerstone Financial Management LLC raised its position in shares of Consolidated Edison by 43.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider’s stock valued at $35,000 after buying an additional 96 shares during the period. Charles Schwab Trust Co raised its position in shares of Consolidated Edison by 2.3% during the 3rd quarter. Charles Schwab Trust Co now owns 4,400 shares of the utilities provider’s stock valued at $450,000 after buying an additional 100 shares during the period. Compass Financial Management LLC raised its position in shares of Consolidated Edison by 18.9% during the 3rd quarter. Compass Financial Management LLC now owns 636 shares of the utilities provider’s stock valued at $65,000 after buying an additional 101 shares during the period. Finally, SYM FINANCIAL Corp lifted its holdings in Consolidated Edison by 5.0% in the third quarter. SYM FINANCIAL Corp now owns 2,158 shares of the utilities provider’s stock valued at $221,000 after acquiring an additional 102 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. Evercore cut their target price on Consolidated Edison from $116.00 to $112.00 in a research note on Thursday, October 8th. KeyCorp reduced their target price on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. Scotiabank decreased their price target on Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 30th. Finally, HSBC began coverage on Consolidated Edison in a report on Thursday, October 22nd. They set a “hold” rating and a $104.00 price target for the company. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $109.74.

Consolidated Edison Trading Up 0.1%

Shares of NYSE ED opened at $119.28 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $122.75. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $109.84 and a 200-day simple moving average of $109.65. The stock has a market capitalization of $44.27 billion, a PE ratio of 20.03, a PEG ratio of 4.13 and a beta of 0.23.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.04. Consolidated Edison had a return on equity of 8.58% and a net margin of 12.70%. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the previous year, the business earned $1.90 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s payout ratio is currently 56.80%.

About Consolidated Edison

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.