Bosun Asset Management LLC Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Bosun Asset Management LLC purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,390 shares of the utilities provider's stock, valued at approximately $213,000.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Consolidated Edison in the fourth quarter worth about $399,824,000. ExodusPoint Capital Management LP raised its stake in shares of 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 valued at $97,564,000 after acquiring an additional 879,866 shares in the last quarter. Invesco Ltd. lifted its holdings in Consolidated Edison by 27.9% in the 4th 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 worth $93,989,000 after purchasing an additional 736,348 shares during the period. Finally, Burkehill Global Management LP acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $53,538,000. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

ED has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Wells Fargo & Company raised their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Barclays boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday. Finally, Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. One equities research analyst has 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 company. According to MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and a consensus target price of $105.80.

Consolidated Edison Price Performance

Shares of ED stock opened at $110.49 on Wednesday. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a market capitalization of $39.81 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.05 and a beta of 0.29. The stock has a 50 day moving average of $108.20 and a two-hundred day 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.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm 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 earned $2.15 earnings per share. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.08%. Consolidated Edison's payout ratio is currently 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.

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