Charles Schwab Trust Co Takes Position in Consolidated Edison, Inc. (NYSE:ED)

Charles Schwab Trust Co purchased a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,300 shares of the utilities provider's stock, valued at approximately $476,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Norges Bank acquired a new stake in Consolidated Edison during the fourth quarter worth about $399,824,000. GAMMA Investing LLC boosted 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 acquiring an additional 1,015,700 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Consolidated Edison by 412.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after acquiring an additional 879,866 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Consolidated Edison by 27.9% in the 4th 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 boosted its holdings in shares of Consolidated Edison by 232.3% in the 4th 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 in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on ED shares. Guggenheim boosted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. 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 research note on Wednesday, May 14th. Morgan Stanley decreased their target price on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. Finally, Scotiabank upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $104.27.

Consolidated Edison Stock Down 0.7%

NYSE ED traded down $0.70 during trading hours on Friday, hitting $101.57. 1,694,450 shares of the company traded hands, compared to its average volume of 2,287,717. The business's 50-day moving average is $107.33 and its 200-day moving average is $100.42. 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 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $36.59 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company posted $2.15 earnings per share. Sell-side analysts anticipate 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 will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.35%. Consolidated Edison's payout ratio is 62.85%.

Consolidated Edison Company 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.