Kettle Hill Capital Management LLC Purchases Shares of 204,812 Consolidated Edison, Inc. (NYSE:ED)

Kettle Hill Capital Management LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 204,812 shares of the utilities provider's stock, valued at approximately $18,275,000. Consolidated Edison accounts for approximately 4.0% of Kettle Hill Capital Management LLC's portfolio, making the stock its 8th largest holding. Kettle Hill Capital Management LLC owned about 0.06% of Consolidated Edison at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in Consolidated Edison by 30.1% in the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock worth $128,279,000 after buying an additional 285,115 shares during the last quarter. Tidal Investments LLC raised its holdings in Consolidated Edison by 4.5% in the third quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider's stock worth $670,000 after purchasing an additional 276 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Consolidated Edison by 5.1% in the third quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider's stock worth $49,745,000 after purchasing an additional 23,024 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of Consolidated Edison by 60.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,194 shares of the utilities provider's stock worth $107,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Barclays increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. UBS Group raised their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Scotiabank raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Finally, Guggenheim raised their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and an average price target of $104.36.

Consolidated Edison Stock Down 1.2%

NYSE ED traded down $1.22 during mid-day trading on Wednesday, reaching $99.36. 3,383,858 shares of the company's stock traded hands, compared to its average volume of 2,270,976. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a fifty day simple moving average of $108.54 and a 200-day simple moving average of $99.85. 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 company has a market cap of $35.80 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) 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 company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period last year, the business posted $2.15 EPS. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 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.