Bryn Mawr Capital Management LLC Cuts Stake in Consolidated Edison, Inc. (NYSE:ED)

Bryn Mawr Capital Management LLC cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 31.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,273 shares of the utilities provider’s stock after selling 1,025 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Consolidated Edison were worth $203,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ED. Capital Performance Advisors LLP purchased a new position in Consolidated Edison in the 3rd quarter worth approximately $27,000. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Consolidated Edison in the third quarter worth $30,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, CGC Financial Services LLC lifted its holdings in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ED shares. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Up 0.1 %

ED opened at $100.05 on Friday. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The firm’s 50 day simple moving average is $92.90 and its two-hundred day simple moving average is $97.98. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $34.69 billion, a PE ratio of 19.09, a PEG ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

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.