Yousif Capital Management LLC Acquires 3,827 Shares of Consolidated Edison, Inc. (NYSE:ED)

Yousif Capital Management LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,412 shares of the utilities provider's stock after purchasing an additional 3,827 shares during the quarter. Yousif Capital Management LLC's holdings in Consolidated Edison were worth $15,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $35,000. Wood Tarver Financial Group LLC bought a new position in Consolidated Edison during the 4th quarter worth $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison in the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the fourth quarter worth about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 1.2%

Shares of NYSE:ED traded up $1.23 during mid-day trading on Tuesday, reaching $102.34. 2,311,785 shares of the company's stock were exchanged, compared to its average volume of 2,285,796. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market capitalization of $36.87 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 3.05 and a beta of 0.27. The business's fifty day moving average price is $107.16 and its 200-day moving average price is $100.44.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company posted $2.15 EPS. On average, research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.32%. Consolidated Edison's payout ratio is 62.85%.

Analyst Ratings Changes

A number of analysts have issued reports on ED shares. UBS Group boosted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. KeyCorp downgraded shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. Guggenheim boosted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Citigroup raised their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and a consensus target price of $104.27.

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.