Valley Brook Capital Group Inc. Purchases 250 Shares of Consolidated Edison, Inc. (NYSE:ED)

Valley Brook Capital Group Inc. boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,750 shares of the utilities provider’s stock after buying an additional 250 shares during the period. Valley Brook Capital Group Inc.’s holdings in Consolidated Edison were worth $341,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its stake in Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after buying an additional 194 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $29,000. Bruce G. Allen Investments LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $31,000. CVA Family Office LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $32,000. Finally, Venturi Wealth Management LLC grew its stake in Consolidated Edison by 62.2% during the third quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider’s stock worth $41,000 after buying an additional 183 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ED shares. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Friday. Barclays raised their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Scotiabank reduced their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. UBS Group reduced their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average price target of $87.75.

Consolidated Edison Trading Up 0.3 %

Consolidated Edison stock traded up $0.31 during mid-day trading on Friday, hitting $95.56. 2,465,195 shares of the stock were exchanged, compared to its average volume of 2,284,421. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.44. The firm’s fifty day simple moving average is $90.21 and its two-hundred day simple moving average is $90.15. The stock has a market capitalization of $33.02 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 8.99 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results 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 8.86%. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the business earned $1.83 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. Analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a $0.83 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.47%. Consolidated Edison’s dividend payout ratio is currently 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.