Yousif Capital Management LLC Sells 4,640 Shares of Consolidated Edison, Inc. (NYSE:ED)

Yousif Capital Management LLC lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,767 shares of the utilities provider’s stock after selling 4,640 shares during the period. Yousif Capital Management LLC’s holdings in Consolidated Edison were worth $12,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ED. Financial Gravity Asset Management Inc. boosted its holdings in shares of Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Level Financial Advisors Inc. acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $29,000. Bruce G. Allen Investments LLC bought a new position in Consolidated Edison during the 4th quarter worth $31,000. Finally, CVA Family Office LLC bought a new position in Consolidated Edison during the 4th quarter worth $32,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Consolidated Edison stock traded up $0.81 during trading on Wednesday, hitting $93.65. The stock had a trading volume of 1,167,385 shares, compared to its average volume of 1,859,709. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $89.16 and its two-hundred day moving average is $89.80. The stock has a market cap of $32.36 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 8.75 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. Consolidated Edison’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.55%. Consolidated Edison’s payout ratio is 46.24%.

Wall Street Analyst Weigh In

ED has been the subject of several research analyst reports. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. UBS Group decreased their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada decreased their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Finally, Barclays lifted their price target on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $87.54.

About Consolidated Edison

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.