Bfsg LLC Has $45,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Bfsg LLC trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 506 shares of the utilities provider’s stock after selling 130 shares during the period. Bfsg LLC’s holdings in Consolidated Edison were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ED. TD Private Client Wealth LLC raised its stake in shares of Consolidated Edison by 4.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 124 shares during the last quarter. Townsquare Capital LLC increased its holdings in Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after buying an additional 130 shares during the last quarter. Trust Point Inc. raised its position in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 131 shares in the last quarter. Finally, Cooper Financial Group lifted its stake in Consolidated Edison by 5.1% in the fourth quarter. Cooper Financial Group now owns 2,799 shares of the utilities provider’s stock valued at $250,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.6 %

Shares of Consolidated Edison stock opened at $95.17 on Thursday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company’s fifty day simple moving average is $91.91 and its 200-day simple moving average is $98.03. The company has a market cap of $32.97 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.02 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.57%. Consolidated Edison’s payout ratio is presently 62.52%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ED. Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays reduced their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $100.70.

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.