Lindbrook Capital LLC Has $76,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

Lindbrook Capital LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 169.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 835 shares of the utilities provider’s stock after purchasing an additional 525 shares during the quarter. Lindbrook Capital LLC’s holdings in Consolidated Edison were worth $76,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc raised its stake in Consolidated Edison by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock worth $530,373,000 after purchasing an additional 27,850 shares in the last quarter. Northern Trust Corp raised its position in shares of Consolidated Edison by 8.2% in the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after buying an additional 340,239 shares in the last quarter. Morgan Stanley raised its position in shares of Consolidated Edison by 1.8% in the 3rd quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after buying an additional 72,915 shares in the last quarter. Invesco Ltd. raised its position in shares of Consolidated Edison by 4.5% in the 3rd quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after buying an additional 129,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Consolidated Edison by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock valued at $169,716,000 after buying an additional 26,910 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ED shares. Royal Bank of Canada dropped their target price on shares of 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. UBS Group decreased their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target on the stock. Scotiabank decreased 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 report on Monday. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Hold” and an average target price of $87.54.

Consolidated Edison Stock Up 0.6 %

Consolidated Edison stock opened at $93.43 on Thursday. 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 firm’s fifty day moving average is $89.29 and its 200 day moving average is $89.83. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.92. The company has a market capitalization of $32.28 billion, a PE ratio of 13.01, a PEG ratio of 8.75 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm 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 company posted $0.81 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced 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 3.55%. Consolidated Edison’s payout ratio is 46.24%.

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.