AQR Capital Management LLC Buys 101,335 Shares of Consolidated Edison, Inc. (NYSE:ED)

AQR Capital Management LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,142,309 shares of the utilities provider's stock after buying an additional 101,335 shares during the period. AQR Capital Management LLC owned about 0.33% of Consolidated Edison worth $101,928,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ED. Norges Bank purchased a new position in shares of Consolidated Edison during the fourth quarter worth approximately $399,824,000. ExodusPoint Capital Management LP raised its position in Consolidated Edison by 412.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after purchasing an additional 879,866 shares during the period. Invesco Ltd. lifted its stake in Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares during the last quarter. Marshall Wace LLP boosted its position in Consolidated Edison by 232.3% during 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. Finally, Burkehill Global Management LP bought a new position in shares of Consolidated Edison during the fourth quarter valued at about $53,538,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Guggenheim increased their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday. Citigroup raised their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Scotiabank increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Barclays raised their price target on shares of Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a report on Tuesday, April 22nd. Finally, UBS Group upped their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. One investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $105.70.

Consolidated Edison Stock Down 2.2 %

Shares of NYSE:ED traded down $2.49 during trading on Friday, hitting $110.07. The stock had a trading volume of 3,421,756 shares, compared to its average volume of 2,225,626. The company has a market capitalization of $39.65 billion, a PE ratio of 21.01, a PEG ratio of 3.05 and a beta of 0.27. 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 fifty day moving average is $107.80 and its 200 day moving average is $99.85. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month 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 (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the company posted $2.15 EPS. Analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS 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. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is currently 64.89%.

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.