CTC Alternative Strategies Ltd. Makes New $501,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

CTC Alternative Strategies Ltd. bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,619 shares of the utilities provider's stock, valued at approximately $501,000. Consolidated Edison accounts for 0.6% of CTC Alternative Strategies Ltd.'s portfolio, making the stock its 22nd biggest position.

A number of other institutional investors also recently modified their holdings of the business. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the 4th quarter valued at approximately $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth approximately $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison during the 4th quarter worth approximately $44,000. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ED. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Guggenheim raised their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Barclays raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Finally, Citigroup raised their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $104.27.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $1.15 during trading hours on Thursday, hitting $103.26. 594,778 shares of the company's stock traded hands, compared to its average volume of 2,281,235. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 3.05 and a beta of 0.29. The company has a fifty day simple moving average of $108.06 and a 200-day simple moving average of $100.08. 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 (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same period last year, the business posted $2.15 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is currently 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.