Dark Forest Capital Management LP Has $895,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Dark Forest Capital Management LP boosted its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 238.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,030 shares of the utilities provider's stock after buying an additional 7,066 shares during the quarter. Dark Forest Capital Management LP's holdings in Consolidated Edison were worth $895,000 at the end of the most recent quarter.

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

Consolidated Edison Trading Up 0.6 %

Shares of NYSE:ED traded up $0.70 during mid-day trading on Tuesday, reaching $111.83. 584,308 shares of the company's stock were exchanged, compared to its average volume of 2,201,764. The firm has a market capitalization of $40.28 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The business's fifty day moving average price is $106.74 and its 200-day moving average price is $99.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Announces Dividend

The company 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 of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.04%. Consolidated Edison's dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ED. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Citigroup raised their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Finally, Barclays upped their price target on shares of Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued 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 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.