Bridgefront Capital LLC Invests $559,000 in Consolidated Edison, Inc. (NYSE:ED)

Bridgefront Capital LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,260 shares of the utilities provider's stock, valued at approximately $559,000.

Other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in shares of Consolidated Edison by 5.2% during the 4th quarter. Captrust Financial Advisors now owns 40,255 shares of the utilities provider's stock worth $3,592,000 after purchasing an additional 1,995 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $1,585,000. Caxton Associates LP bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $1,018,000. Baker Avenue Asset Management LP boosted its holdings in Consolidated Edison by 21.4% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,745 shares of the utilities provider's stock valued at $334,000 after purchasing an additional 660 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Consolidated Edison by 1.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider's stock valued at $17,767,000 after buying an additional 3,275 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Guggenheim boosted 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. Barclays lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday. Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $105.80.

Consolidated Edison Trading Down 0.1 %

Shares of NYSE ED traded down $0.11 during midday trading on Friday, reaching $107.64. 2,248,896 shares of the stock were exchanged, compared to its average volume of 2,243,664. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The business has a 50-day simple moving average of $108.46 and a two-hundred day simple moving average of $99.94. The company has a market capitalization of $38.78 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) 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 period in the previous year, the firm posted $2.15 earnings per share. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is currently 62.85%.

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.