G&S Capital LLC Has $794,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

G&S Capital LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,747 shares of the utilities provider’s stock after buying an additional 139 shares during the period. G&S Capital LLC’s holdings in Consolidated Edison were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Norges Bank acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $243,511,000. International Assets Investment Management LLC lifted its position in shares of Consolidated Edison by 9,063.6% during the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock worth $47,216,000 after purchasing an additional 513,364 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Consolidated Edison by 408.8% during the fourth quarter. Retirement Systems of Alabama now owns 396,849 shares of the utilities provider’s stock worth $36,101,000 after purchasing an additional 318,858 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Consolidated Edison by 1,560.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 301,292 shares of the utilities provider’s stock worth $25,770,000 after purchasing an additional 283,143 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its position in shares of Consolidated Edison by 56.1% during the fourth quarter. Pinebridge Investments L.P. now owns 702,721 shares of the utilities provider’s stock worth $63,927,000 after purchasing an additional 252,617 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays upped their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Scotiabank cut their price objective on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Mizuho increased their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Finally, Morgan Stanley cut their price objective on shares of Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.27.

Consolidated Edison Stock Up 0.3 %

Shares of ED stock opened at $89.67 on Thursday. The firm has a fifty day moving average of $93.64 and a 200-day moving average of $91.17. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $98.85. The company has a market capitalization of $31.01 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.27 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Tuesday, May 14th. Consolidated Edison’s payout ratio is 63.72%.

Consolidated Edison 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.