DGS Capital Management LLC Has $669,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

DGS Capital Management LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 62.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,366 shares of the utilities provider’s stock after acquiring an additional 2,834 shares during the period. DGS Capital Management LLC’s holdings in Consolidated Edison were worth $669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ED. Legal & General Group Plc lifted its position 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 valued at $530,373,000 after acquiring an additional 27,850 shares in the last quarter. Morgan Stanley lifted its position in 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 acquiring an additional 72,915 shares in the last quarter. Norges Bank bought a new stake in Consolidated Edison in the 4th quarter valued at $243,511,000. Charles Schwab Investment Management Inc. lifted its position in Consolidated Edison by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,032,385 shares of the utilities provider’s stock valued at $184,886,000 after acquiring an additional 47,936 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Consolidated Edison by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,491,266 shares of the utilities provider’s stock valued at $127,548,000 after acquiring an additional 34,887 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 research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Morgan Stanley cut their price target on shares of Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating on the stock in a research report on Monday. Barclays boosted their price target on shares of Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Finally, Scotiabank cut 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 research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $89.27.

Consolidated Edison Stock Up 0.0 %

Shares of ED opened at $89.68 on Friday. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The firm has a market cap of $31.01 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.35. The firm’s 50-day simple moving average is $93.63 and its 200 day simple moving average is $91.16. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the business earned $1.83 EPS. Consolidated Edison’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.70%. Consolidated Edison’s payout ratio is presently 63.72%.

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.