Consolidated Edison Inc (NYSE:ED) Shares Sold by Albion Financial Group UT

Albion Financial Group UT trimmed its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,329 shares of the utilities provider's stock after selling 4,449 shares during the period. Albion Financial Group UT's holdings in Consolidated Edison were worth $5,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $399,824,000. GAMMA Investing LLC increased its holdings in shares of Consolidated Edison by 15,937.5% in the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock worth $113,031,000 after buying an additional 1,015,700 shares during the last quarter. ExodusPoint Capital Management LP raised its position in shares of Consolidated Edison by 412.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after buying an additional 879,866 shares in the last quarter. Invesco Ltd. grew its position in Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after acquiring an additional 812,885 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Consolidated Edison by 232.3% during the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after acquiring an additional 736,348 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho raised shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $105.00 to $107.00 in a research note on Monday. Morgan Stanley decreased their target price on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Barclays raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Wells Fargo & Company raised 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. Finally, Guggenheim raised their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $105.27.

Consolidated Edison Stock Performance

ED stock traded up $0.39 during trading on Tuesday, reaching $100.74. The company had a trading volume of 2,749,128 shares, compared to its average volume of 2,380,601. The company has a market cap of $36.30 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 3.20 and a beta of 0.26. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The firm has a 50-day simple moving average of $104.64 and a 200-day simple moving average of $100.84.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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 company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same period last year, the firm earned $2.15 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison's payout ratio is currently 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.