Bryn Mawr Capital Management LLC Invests $310,000 in Consolidated Edison, Inc. (NYSE:ED)

Bryn Mawr Capital Management LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,411 shares of the utilities provider’s stock, valued at approximately $310,000.

Other large investors have also modified their holdings of the company. Diversified Trust Co boosted its position in shares of Consolidated Edison by 140.8% in the fourth quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock worth $3,361,000 after buying an additional 21,604 shares during the period. abrdn plc boosted its position in shares of Consolidated Edison by 30.2% in the fourth quarter. abrdn plc now owns 311,894 shares of the utilities provider’s stock worth $28,373,000 after buying an additional 72,273 shares during the period. Pacer Advisors Inc. boosted its position in shares of Consolidated Edison by 169.9% in the fourth quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock worth $5,487,000 after buying an additional 37,971 shares during the period. Blackhawk Capital Partners LLC. acquired a new stake in shares of Consolidated Edison in the fourth quarter worth $1,551,000. Finally, Mariner LLC boosted its position in shares of Consolidated Edison by 24.9% in the third quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock worth $7,844,000 after buying an additional 18,270 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 1.3 %

NYSE ED opened at $92.93 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $89.52 and its two-hundred day moving average is $89.91. The company has a market capitalization of $32.11 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 8.75 and a beta of 0.35. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.44.

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, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Equities analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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. This represents a $3.32 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is 46.24%.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Barclays lifted their price objective on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. UBS Group reduced their price objective 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 dropped their price objective on 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. Finally, LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.54.

Consolidated Edison Company 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.