Cwm LLC Decreases Stake in Consolidated Edison Inc (NYSE:ED)

Cwm LLC lessened its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 228,760 shares of the utilities provider's stock after selling 2,537 shares during the period. Cwm LLC owned approximately 0.06% of Consolidated Edison worth $25,299,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $399,824,000. GAMMA Investing LLC lifted 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 valued at $113,031,000 after buying an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP lifted its holdings in Consolidated Edison by 412.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after acquiring an additional 879,866 shares during the period. Invesco Ltd. grew its stake in shares of Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares during the period. Finally, Marshall Wace LLP lifted its stake 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 valued at $93,989,000 after purchasing an additional 736,348 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $100.59 on Monday. The business's 50 day moving average price is $102.54 and its 200 day moving average price is $101.49. The company has a market cap of $36.24 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 3.21 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

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

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's payout ratio is presently 62.85%.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. UBS Group upped their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Barclays lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. KeyCorp cut shares of 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. Finally, Morgan Stanley decreased their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $105.27.

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.

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