Texas Yale Capital Corp. Has $2.91 Million Stock Position in Consolidated Edison Inc $ED

Texas Yale Capital Corp. raised its holdings in Consolidated Edison Inc (NYSE:ED) by 73.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,902 shares of the utilities provider’s stock after purchasing an additional 12,275 shares during the quarter. Texas Yale Capital Corp.’s holdings in Consolidated Edison were worth $2,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Revolve Wealth Partners LLC lifted its position in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 2,659 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Consolidated Edison by 40.7% in the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 8,468 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Consolidated Edison by 60.8% in the 2nd quarter. Ritholtz Wealth Management now owns 3,297 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Mutual Advisors LLC grew its holdings in shares of Consolidated Edison by 6.1% during the 2nd quarter. Mutual Advisors LLC now owns 5,978 shares of the utilities provider’s stock valued at $611,000 after purchasing an additional 344 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley reissued an “underweight” rating and issued a $96.00 price objective on shares of Consolidated Edison in a research note on Wednesday, January 21st. UBS Group increased their price target on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Wells Fargo & Company cut their price objective on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their target price on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Finally, TD Cowen started coverage on Consolidated Edison in a research note on Friday, January 9th. They set a “hold” rating and a $105.00 price target on the stock. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $104.20.

Consolidated Edison Stock Up 1.7%

Shares of ED opened at $113.59 on Monday. The company has a market capitalization of $41.00 billion, a PE ratio of 19.86, a PEG ratio of 3.10 and a beta of 0.38. Consolidated Edison Inc has a 12 month low of $94.50 and a 12 month high of $114.87. The stock’s 50-day moving average price is $102.16 and its two-hundred day moving average price is $100.59. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s payout ratio is presently 59.44%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.