Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by DC Investments Management LLC

DC Investments Management LLC grew its position in Consolidated Edison, Inc. (NYSE:ED) by 76.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,289 shares of the utilities provider’s stock after purchasing an additional 8,368 shares during the period. Consolidated Edison makes up approximately 1.1% of DC Investments Management LLC’s holdings, making the stock its 28th biggest position. DC Investments Management LLC’s holdings in Consolidated Edison were worth $1,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 0.5 %

Consolidated Edison stock opened at $111.04 on Thursday. The firm’s 50 day moving average price is $108.39 and its two-hundred day moving average price is $99.93. The firm has a market cap of $40.01 billion, a PE ratio of 21.19, a P/E/G ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the business posted $2.15 earnings per share. On average, research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 62.85%.

Analysts Set New Price Targets

Several research firms recently commented on ED. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Guggenheim increased their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $105.80.

About Consolidated Edison

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.