Keel Point LLC Has $253,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Keel Point LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 12.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,837 shares of the utilities provider’s stock after selling 409 shares during the quarter. Keel Point LLC’s holdings in Consolidated Edison were worth $253,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its position in Consolidated Edison by 175.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,334 shares of the utilities provider’s stock worth $1,011,000 after buying an additional 7,218 shares in the last quarter. Gallo Partners LP acquired a new stake in shares of Consolidated Edison during the 4th quarter worth $2,051,000. Voleon Capital Management LP acquired a new position in Consolidated Edison in the fourth quarter valued at about $1,686,000. Schonfeld Strategic Advisors LLC raised its stake in Consolidated Edison by 188.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 92,710 shares of the utilities provider’s stock valued at $8,273,000 after purchasing an additional 60,572 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Consolidated Edison by 9.7% during the fourth quarter. AQR Capital Management LLC now owns 1,142,309 shares of the utilities provider’s stock worth $101,928,000 after buying an additional 101,335 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ED shares. Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays raised their price objective on Consolidated Edison from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, April 22nd. Finally, Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.70.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $110.07 on Friday. The business has a 50 day moving average of $107.80 and a 200-day moving average of $99.85. The company has a market capitalization of $39.65 billion, a P/E ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the company posted $2.15 earnings per share. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s payout ratio is presently 64.89%.

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.