Brookstone Capital Management Has $2.52 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Brookstone Capital Management boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 0.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 24,173 shares of the utilities provider’s stock after acquiring an additional 136 shares during the period. Brookstone Capital Management’s holdings in Consolidated Edison were worth $2,517,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position in shares of Consolidated Edison by 2,486.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after purchasing an additional 20,934 shares during the period. Sei Investments Co. grew its stake in Consolidated Edison by 57.4% in the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after buying an additional 89,080 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Consolidated Edison by 153.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after acquiring an additional 148,988 shares during the period. Mizuho Markets Americas LLC raised its holdings in Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after acquiring an additional 62,260 shares during the period. Finally, AMF Tjanstepension AB acquired a new stake in Consolidated Edison during the first quarter worth approximately $13,193,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.7 %

NYSE ED opened at $102.33 on Friday. The business has a fifty day moving average price of $102.34 and a two-hundred day moving average price of $95.96. The stock has a market capitalization of $35.39 billion, a PE ratio of 19.64, a PEG ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a fifty-two week low of $85.15 and a fifty-two week high of $105.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period last year, the firm posted $0.61 earnings per share. Equities analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.24%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Bank of America increased their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday. They issued a “hold” rating and a $108.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and an average price target of $94.96.

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.