Tableaux LLC Takes $417,000 Position in Consolidated Edison, Inc. (NYSE:ED)

Tableaux LLC bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,669 shares of the utilities provider's stock, valued at approximately $417,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Consolidated Edison by 81.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after buying an additional 4,451 shares during the period. Smith Group Asset Management LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $446,000. KBC Group NV raised its stake in shares of Consolidated Edison by 11.1% in the 4th quarter. KBC Group NV now owns 46,095 shares of the utilities provider's stock valued at $4,113,000 after acquiring an additional 4,588 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of Consolidated Edison by 6.4% in the 4th quarter. Forsta AP Fonden now owns 150,200 shares of the utilities provider's stock valued at $13,402,000 after acquiring an additional 9,100 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ED. Barclays lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Scotiabank boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. KeyCorp cut Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price for the company. in a report on Wednesday, May 14th. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of "Hold" and an average price target of $104.27.

Consolidated Edison Stock Up 1.2%

NYSE ED traded up $1.27 on Friday, hitting $104.65. 6,398,492 shares of the stock were exchanged, compared to its average volume of 2,308,764. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a 50-day moving average price of $107.99 and a 200-day moving average price of $100.12. 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 cap of $37.70 billion, a PE ratio of 19.97, a PEG ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period last year, the firm posted $2.15 earnings per share. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.25%. Consolidated Edison's payout ratio is currently 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.