Valley Brook Capital Group Inc. Grows Position in Consolidated Edison, Inc. (NYSE:ED)

Valley Brook Capital Group Inc. grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,750 shares of the utilities provider’s stock after purchasing an additional 250 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Consolidated Edison were worth $341,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. boosted its stake in shares of Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $31,000. CVA Family Office LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $32,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Consolidated Edison by 62.2% during the third quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.3 %

Consolidated Edison stock traded up $0.31 during trading hours on Friday, hitting $95.56. The stock had a trading volume of 2,465,195 shares, compared to its average volume of 2,284,421. The stock’s 50-day moving average price is $90.21 and its 200-day moving average price is $90.15. The stock has a market capitalization of $33.02 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 8.99 and a beta of 0.34. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.44. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.86%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the business earned $1.83 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.47%. Consolidated Edison’s payout ratio is 63.72%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ED shares. Barclays upped their target price on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Scotiabank decreased their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada decreased their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Wells Fargo & Company increased their price objective on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, UBS Group decreased their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.75.

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.