NBC Securities Inc. Has $307,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

NBC Securities Inc. raised its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 138,950.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,781 shares of the utilities provider's stock after acquiring an additional 2,779 shares during the period. NBC Securities Inc.'s holdings in Consolidated Edison were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in shares of Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after buying an additional 104 shares during the period. Glen Eagle Advisors LLC lifted its stake in shares of Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock valued at $170,000 after buying an additional 111 shares during the period. Richwood Investment Advisors LLC lifted its stake in shares of Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after buying an additional 115 shares during the period. Penobscot Investment Management Company Inc. lifted its stake in shares of Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after buying an additional 125 shares during the period. Finally, TrinityPoint Wealth LLC lifted its stake in shares of Consolidated Edison by 1.1% in the fourth quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider's stock valued at $1,017,000 after buying an additional 129 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ED has been the subject of a number of analyst reports. Citigroup raised their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Barclays lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Guggenheim lifted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $104.27.

Consolidated Edison Trading Down 0.5%

ED stock traded down $0.50 during trading on Monday, hitting $101.11. The company had a trading volume of 1,781,807 shares, compared to its average volume of 2,285,693. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $107.16 and a 200-day moving average price of $100.44. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market cap of $36.43 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm earned $2.15 EPS. As a group, analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 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.