235,776 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Two Sigma Investments LP

Two Sigma Investments LP acquired a new position in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 235,776 shares of the utilities provider's stock, valued at approximately $21,038,000. Two Sigma Investments LP owned 0.07% of Consolidated Edison as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in Consolidated Edison by 13.4% in the 4th quarter. Tidal Investments LLC now owns 7,301 shares of the utilities provider's stock worth $651,000 after purchasing an additional 864 shares during the period. Teza Capital Management LLC boosted its stake in Consolidated Edison by 9.7% in the 4th quarter. Teza Capital Management LLC now owns 15,029 shares of the utilities provider's stock worth $1,341,000 after purchasing an additional 1,334 shares during the period. TrinityPoint Wealth LLC boosted its stake in Consolidated Edison by 1.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider's stock worth $1,017,000 after purchasing an additional 129 shares during the period. Scientech Research LLC acquired a new position in Consolidated Edison in the 4th quarter worth approximately $1,302,000. Finally, Siemens Fonds Invest GmbH lifted its position in Consolidated Edison by 194.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 16,702 shares of the utilities provider's stock worth $1,490,000 after buying an additional 11,028 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Barclays increased their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. KeyCorp downgraded shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price for the company. in a research report on Wednesday, May 14th. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Consolidated Edison has an average rating of "Hold" and a consensus price target of $104.27.

Consolidated Edison Stock Up 0.1%

Shares of Consolidated Edison stock traded up $0.10 during midday trading on Tuesday, reaching $104.20. 342,057 shares of the company's stock traded hands, compared to its average volume of 2,279,751. The company has a market cap of $37.54 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The company's 50 day simple moving average is $108.26 and its 200 day simple moving average is $100.04. 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, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results 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 business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the business posted $2.15 EPS. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.26%. Consolidated Edison's dividend payout ratio (DPR) is presently 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.