5,192 Shares in Consolidated Edison Inc (NYSE:ED) Acquired by Inscription Capital LLC

Inscription Capital LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,192 shares of the utilities provider's stock, valued at approximately $574,000.

Several other large investors also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC grew its position in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares in the last quarter. Empowered Funds LLC lifted its stake in Consolidated Edison by 9.2% in the fourth quarter. Empowered Funds LLC now owns 6,319 shares of the utilities provider's stock worth $564,000 after acquiring an additional 534 shares during the period. Vontobel Holding Ltd. lifted its stake in Consolidated Edison by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 5,101 shares of the utilities provider's stock worth $455,000 after acquiring an additional 169 shares during the period. Principal Securities Inc. grew its holdings in Consolidated Edison by 16.0% during the 4th quarter. Principal Securities Inc. now owns 6,480 shares of the utilities provider's stock worth $578,000 after acquiring an additional 892 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Consolidated Edison by 16.4% during the 4th quarter. Allworth Financial LP now owns 5,844 shares of the utilities provider's stock worth $530,000 after acquiring an additional 823 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of ED stock traded down $0.69 during mid-day trading on Thursday, hitting $100.66. 2,620,545 shares of the stock were exchanged, compared to its average volume of 2,318,283. 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 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The company has a market cap of $36.27 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.27. The firm has a fifty day moving average of $106.46 and a 200 day moving average of $100.51.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the prior year, the company posted $2.15 EPS. Research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were given a $0.85 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.38%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ED shares. Barclays boosted their price target 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. UBS Group increased their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target for the company. in a report on Wednesday, May 14th. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, Citigroup increased their price target 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $104.18.

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.