DC Investments Management LLC Purchases 8,368 Shares of Consolidated Edison, Inc. (NYSE:ED)

DC Investments Management LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,289 shares of the utilities provider's stock after buying an additional 8,368 shares during the quarter. Consolidated Edison comprises about 1.1% of DC Investments Management LLC's holdings, making the stock its 28th largest position. DC Investments Management LLC's holdings in Consolidated Edison were worth $1,721,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $27,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at $36,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison in the 4th quarter worth about $35,000. Centricity Wealth Management LLC bought a new stake in Consolidated Edison in the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Consolidated Edison in the 4th quarter valued at about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

NYSE:ED traded down $0.11 during midday trading on Friday, hitting $107.64. The company had a trading volume of 2,248,896 shares, compared to its average volume of 2,245,893. The stock's fifty day moving average price is $108.57 and its 200-day moving average price is $99.90. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. 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 company has a market capitalization of $38.78 billion, a PE 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 data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same period in the prior year, the business posted $2.15 earnings per share. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 3.16%. Consolidated Edison's payout ratio is 62.85%.

Analyst Ratings Changes

ED has been the subject of several recent research reports. Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Barclays raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Finally, Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $105.80.

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.