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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in ED. Salomon & Ludwin LLC boosted its position in shares of Consolidated Edison by 270.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 219 shares in the last quarter. Bogart Wealth LLC lifted its stake in Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after buying an additional 328 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $38,000. True Wealth Design LLC grew its position in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after buying an additional 396 shares during the period. Finally, Webster Bank N. A. increased its stake in shares of Consolidated Edison by 67.8% in the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 200 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. TD Cowen started coverage on Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. UBS Group lifted their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Finally, KeyCorp reduced their price objective on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $104.20.

Consolidated Edison Trading Up 1.7%

NYSE:ED opened at $113.59 on Monday. Consolidated Edison Inc has a 12 month low of $94.50 and a 12 month high of $114.87. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $102.16 and its 200 day moving average is $100.59. The stock has a market capitalization of $41.00 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38.

Consolidated Edison Increases Dividend

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

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.