Boothbay Fund Management LLC Sells 3,863 Shares of Consolidated Edison, Inc. (NYSE:ED)

Boothbay Fund Management LLC reduced its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 57.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,878 shares of the utilities provider's stock after selling 3,863 shares during the period. Boothbay Fund Management LLC's holdings in Consolidated Edison were worth $257,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ED. AlphaMark Advisors LLC acquired a new position in Consolidated Edison in the 4th quarter valued at approximately $27,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the fourth quarter valued at $35,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison during the fourth quarter worth $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of ED stock traded up $0.97 during trading hours on Tuesday, hitting $110.49. 2,186,835 shares of the company's stock were exchanged, compared to its average volume of 2,228,499. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a market cap of $39.80 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock's 50-day moving average is $107.99 and its 200-day moving average is $99.78.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 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 company 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 earned $2.15 EPS. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 64.89%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ED shares. 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. UBS Group lifted 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 increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $105.80.

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.