2,495 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Sivia Capital Partners LLC

Sivia Capital Partners LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,495 shares of the utilities provider’s stock, valued at approximately $276,000.

Several other large investors have also made changes to their positions in ED. Norges Bank acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $399,824,000. GAMMA Investing LLC grew its position in Consolidated Edison by 15,937.5% in the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock worth $113,031,000 after purchasing an additional 1,015,700 shares during the last quarter. ExodusPoint Capital Management LP raised its position in shares of Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider’s stock valued at $97,564,000 after buying an additional 879,866 shares during the last quarter. Invesco Ltd. raised its position in shares of Consolidated Edison by 27.9% during the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider’s stock valued at $332,090,000 after buying an additional 812,885 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Consolidated Edison by 232.3% in the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock valued at $93,989,000 after buying an additional 736,348 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE ED opened at $101.57 on Monday. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a 50 day moving average of $107.33 and a 200-day moving average of $100.42. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market cap of $36.59 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued 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 net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm posted $2.15 EPS. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 62.85%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent research reports. Barclays upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, May 5th. UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley lowered their price target on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating on the stock in a report on Thursday, May 22nd. Guggenheim raised their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company lifted 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 report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $104.27.

Consolidated Edison 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.