Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,911 shares of the utilities provider's stock after buying an additional 3,808 shares during the period. Park Avenue Securities LLC's holdings in Consolidated Edison were worth $2,976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ED. Patriot Financial Group Insurance Agency LLC bought a new stake in Consolidated Edison during the first quarter worth $231,000. Wedmont Private Capital grew its position in Consolidated Edison by 2.3% in the 1st quarter. Wedmont Private Capital now owns 9,168 shares of the utilities provider's stock worth $1,007,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. increased its stake in Consolidated Edison by 4.6% in the 1st quarter. UMB Bank n.a. now owns 10,499 shares of the utilities provider's stock valued at $1,161,000 after buying an additional 463 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Consolidated Edison in the 1st quarter valued at about $276,000. Finally, Harrington Investments INC increased its position in shares of Consolidated Edison by 0.6% during the first quarter. Harrington Investments INC now owns 27,526 shares of the utilities provider's stock valued at $3,044,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ED. 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 report on Thursday, May 22nd. 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 research note on Wednesday, May 14th. Scotiabank upped 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. Wells Fargo & Company increased 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, Citigroup boosted their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $104.27.

Consolidated Edison Trading Up 1.0%

Shares of ED traded up $1.05 during trading hours on Friday, reaching $104.81. 559,167 shares of the company traded hands, compared to its average volume of 2,288,299. The stock's fifty day moving average price is $106.78 and its 200 day moving average price is $100.50. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a market cap of $37.76 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted 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). The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $2.15 EPS. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.24%. Consolidated Edison's dividend payout ratio (DPR) is 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.