Kettle Hill Capital Management LLC Makes New $18.28 Million Investment in Consolidated Edison, Inc. (NYSE:ED)

Kettle Hill Capital Management LLC bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 204,812 shares of the utilities provider's stock, valued at approximately $18,275,000. Consolidated Edison comprises 4.0% of Kettle Hill Capital Management LLC's investment portfolio, making the stock its 8th biggest position. Kettle Hill Capital Management LLC owned about 0.06% of Consolidated Edison as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ED. JPMorgan Chase & Co. increased its stake in Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after buying an additional 82,985 shares during the period. Hennessy Advisors Inc. increased its position in shares of Consolidated Edison by 2.8% in the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock valued at $12,772,000 after purchasing an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock valued at $38,394,000 after purchasing an additional 217,981 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after buying an additional 4,451 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Consolidated Edison by 2.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 132,754 shares of the utilities provider's stock valued at $11,846,000 after buying an additional 3,135 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock traded up $2.30 during trading hours on Friday, hitting $104.31. 2,758,844 shares of the company traded hands, compared to its average volume of 2,880,450. The firm has a market cap of $37.58 billion, a P/E ratio of 19.91, a P/E/G ratio of 3.05 and a beta of 0.29. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm's 50-day simple moving average is $108.44 and its two-hundred day simple moving average is $99.83. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87.

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

Consolidated Edison Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.26%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ED. Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. UBS Group boosted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Wells Fargo & Company boosted their price objective 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. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Citigroup upped their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $104.36.

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.