Brookstone Capital Management Purchases 2,414 Shares of Consolidated Edison, Inc. (NYSE:ED)

Brookstone Capital Management raised its position in shares of Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,787 shares of the utilities provider’s stock after acquiring an additional 2,414 shares during the quarter. Brookstone Capital Management’s holdings in Consolidated Edison were worth $2,914,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Burleson & Company LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $26,000. Destiny Wealth Partners LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $30,000. Northern Oak Wealth Management Inc. lifted its holdings in shares of Consolidated Edison by 358.4% during the second quarter. Northern Oak Wealth Management Inc. now owns 408 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 319 shares during the last quarter. Heritage Wealth Management LLC purchased a new position in shares of Consolidated Edison during the second quarter valued at approximately $39,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $36,000. 64.95% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $95.63 on Friday. The firm has a market cap of $33.95 billion, a PE ratio of 20.48, a P/E/G ratio of 9.85 and a beta of 0.35. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $93.34 and a two-hundred day simple moving average of $92.97. Consolidated Edison, Inc. has a 1-year low of $78.10 and a 1-year high of $102.21.

Consolidated Edison (NYSE:ED – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Consolidated Edison had a net margin of 10.59% and a return on equity of 7.79%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 4.86 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th were given a dividend of $0.81 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, February 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.39%. Consolidated Edison’s payout ratio is presently 69.38%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ED shares. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $87.00 to $98.00 in a report on Wednesday, December 14th. JPMorgan Chase & Co. decreased their price objective on shares of Consolidated Edison from $88.00 to $87.00 and set an “underweight” rating for the company in a report on Thursday, February 2nd. StockNews.com started coverage on shares of Consolidated Edison in a report on Thursday. They issued a “hold” rating for the company. UBS Group boosted their price objective on shares of Consolidated Edison to $96.00 in a report on Monday, November 21st. Finally, Credit Suisse Group decreased their price objective on shares of Consolidated Edison from $95.00 to $91.00 and set a “neutral” rating for the company in a report on Friday, February 17th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.25.

Consolidated Edison Profile

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Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.