204,812 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Kettle Hill Capital Management LLC

Kettle Hill Capital Management LLC bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 204,812 shares of the utilities provider’s stock, valued at approximately $18,275,000. Consolidated Edison makes up approximately 4.0% of Kettle Hill Capital Management LLC’s holdings, making the stock its 8th largest holding. Kettle Hill Capital Management LLC owned 0.06% of Consolidated Edison at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after acquiring an additional 488,752 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock worth $799,684,000 after purchasing an additional 130,234 shares during the last quarter. Norges Bank bought a new stake in Consolidated Edison during the 4th quarter valued at approximately $399,824,000. Northern Trust Corp grew its holdings in Consolidated Edison by 10.2% in the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider’s stock valued at $375,458,000 after buying an additional 390,708 shares during the last quarter. Finally, Invesco Ltd. increased its position in Consolidated Edison by 27.9% in the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider’s stock worth $332,090,000 after buying an additional 812,885 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ED. UBS Group raised their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company boosted their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $105.80.

Consolidated Edison Stock Down 0.1 %

ED opened at $107.64 on Friday. The firm has a market cap of $38.78 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.05 and a beta of 0.29. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm’s 50-day simple moving average is $108.57 and its 200-day simple moving average is $99.90. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share 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 the consensus estimate of $4.21 billion. During the same period in the prior year, the company posted $2.15 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 62.85%.

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.