Brookstone Capital Management Raises Stake in Consolidated Edison, Inc. (NYSE:ED)

Brookstone Capital Management boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,642 shares of the utilities provider’s stock after purchasing an additional 469 shares during the period. Brookstone Capital Management’s holdings in Consolidated Edison were worth $2,199,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth $776,000. Pathway Financial Advisers LLC lifted its stake in shares of Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after acquiring an additional 24,211 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares during the period. National Pension Service lifted its stake in shares of Consolidated Edison by 7.0% in the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after acquiring an additional 30,838 shares during the period. Finally, Brophy Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth $521,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ED shares. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. UBS Group raised their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $100.64.

Consolidated Edison Stock Performance

Shares of ED opened at $90.22 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market cap of $31.25 billion, a P/E ratio of 16.99, a PEG ratio of 3.11 and a beta of 0.38. The company has a 50-day moving average of $93.72 and a two-hundred day moving average of $97.90. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, research analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

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.