Brooklyn Investment Group Makes New $153,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Brooklyn Investment Group purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,467 shares of the utilities provider’s stock, valued at approximately $153,000.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its position in shares of Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares during the period. Plato Investment Management Ltd raised its position in shares of Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 9,903 shares during the period. Cetera Advisors LLC raised its position in Consolidated Edison by 74.5% in the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 7,324 shares during the last quarter. Czech National Bank raised its position in Consolidated Edison by 8.5% in the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after buying an additional 5,161 shares during the last quarter. Finally, National Pension Service raised its position in Consolidated Edison by 7.0% in the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock valued at $48,792,000 after buying an additional 30,838 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.1 %

ED stock opened at $101.58 on Thursday. 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 company has a market capitalization of $35.19 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.34 and a beta of 0.36. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock has a fifty day moving average of $101.81 and a 200-day moving average of $98.15.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.27%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ED shares. Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America increased their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, UBS Group raised their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.19.

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.