6,935 Shares in Consolidated Edison Inc (NYSE:ED) Purchased by Aurora Private Wealth Inc.

Aurora Private Wealth Inc. acquired a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,935 shares of the utilities provider's stock, valued at approximately $767,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $399,824,000. GAMMA Investing LLC lifted its holdings in Consolidated Edison by 15,937.5% in the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after acquiring an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP lifted its holdings in Consolidated Edison by 412.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after acquiring an additional 879,866 shares during the period. Invesco Ltd. boosted its position in shares of Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Consolidated Edison by 232.3% during the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after purchasing an additional 736,348 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. UBS Group lifted their price target 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. Guggenheim boosted their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Barclays upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $104.18.

Consolidated Edison Price Performance

NYSE:ED traded down $0.28 during trading hours on Friday, reaching $98.13. 2,880,053 shares of the company traded hands, compared to its average volume of 2,373,052. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The firm's 50-day moving average is $105.13 and its 200-day moving average is $100.65. The stock has a market cap of $35.36 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.14 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 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 company 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 business posted $2.15 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 62.85%.

About Consolidated Edison

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.