Rhumbline Advisers Increases Stake in Consolidated Edison, Inc. (NYSE:ED)

Rhumbline Advisers raised its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 751,355 shares of the utilities provider's stock after acquiring an additional 11,089 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Consolidated Edison worth $83,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC increased its holdings in Consolidated Edison by 4.2% during the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock worth $229,000 after purchasing an additional 104 shares during the period. Glen Eagle Advisors LLC boosted its position in shares of Consolidated Edison by 6.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after purchasing an additional 111 shares in the last quarter. Richwood Investment Advisors LLC raised its position in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its stake in Consolidated Edison by 5.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock worth $205,000 after purchasing an additional 125 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its position in Consolidated Edison by 1.1% during the 4th quarter. TrinityPoint Wealth LLC now owns 11,395 shares of the utilities provider's stock worth $1,017,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

NYSE ED traded down $0.10 during trading hours on Thursday, reaching $102.11. The company's stock had a trading volume of 2,451,918 shares, compared to its average volume of 2,282,093. The firm has a market capitalization of $36.79 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 3.05 and a beta of 0.29. The company's 50-day moving average is $107.67 and its two-hundred day moving average is $100.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. 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 released 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 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 11.93% and a return on equity of 8.62%. During the same period in the prior year, the business posted $2.15 EPS. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 62.85%.

Wall Street Analyst Weigh In

ED has been the subject of several research reports. Guggenheim lifted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Morgan Stanley dropped their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. UBS Group increased their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Barclays lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison has an average rating of "Hold" and a consensus target price of $104.27.

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.