Brevan Howard Capital Management LP Acquires New Stake in Consolidated Edison, Inc. (NYSE:ED)

Brevan Howard Capital Management LP bought a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,330 shares of the utilities provider's stock, valued at approximately $476,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $559,000. Captrust Financial Advisors increased its holdings in shares of Consolidated Edison by 5.2% in the fourth quarter. Captrust Financial Advisors now owns 40,255 shares of the utilities provider's stock valued at $3,592,000 after buying an additional 1,995 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $1,585,000. Caxton Associates LP bought a new stake in shares of Consolidated Edison during the 4th quarter worth $1,018,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Consolidated Edison by 21.4% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,745 shares of the utilities provider's stock worth $334,000 after acquiring an additional 660 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Guggenheim raised their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Barclays boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of "Hold" and a consensus target price of $105.80.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $107.64 on Friday. The business has a fifty day simple moving average of $108.57 and a 200 day simple moving average of $99.96. 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, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The firm has a market cap of $38.78 billion, a price-to-earnings ratio of 20.54, 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). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $2.15 earnings per share. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.16%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

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.

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