Nebula Research & Development LLC Acquires 23,264 Shares of Consolidated Edison, Inc. (NYSE:ED)

Nebula Research & Development LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 224.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,644 shares of the utilities provider's stock after purchasing an additional 23,264 shares during the quarter. Nebula Research & Development LLC's holdings in Consolidated Edison were worth $3,002,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ED. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $27,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison during the fourth quarter worth $35,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $36,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison during the fourth quarter worth $44,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ED. Barclays boosted their target price on Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 22nd. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Citigroup lifted their price objective 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. UBS Group lifted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Scotiabank lifted 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $103.60.

Consolidated Edison Stock Up 0.3 %

ED traded up $0.35 during trading on Wednesday, reaching $112.48. The company had a trading volume of 685,409 shares, compared to its average volume of 2,775,635. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The business's fifty day moving average price is $107.07 and its 200 day moving average price is $99.66. The company has a market cap of $40.52 billion, a P/E ratio of 21.47, a PEG ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 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.