CX Institutional Invests $315,000 in Consolidated Edison Inc (NYSE:ED)

CX Institutional purchased a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,844 shares of the utilities provider's stock, valued at approximately $315,000.

A number of other institutional investors have also made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at $35,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison in the fourth quarter worth about $35,000. Fairway Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter worth about $36,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison during the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison during the 4th quarter valued at about $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 0.5%

Shares of ED traded down $0.48 on Wednesday, hitting $100.87. The company's stock had a trading volume of 1,157,965 shares, compared to its average volume of 2,309,133. The firm's fifty day moving average price is $106.56 and its 200-day moving average price is $100.51. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $36.34 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.25 and a beta of 0.27.

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 for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company earned $2.15 EPS. On average, equities research analysts expect 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 issued a $0.85 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.37%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ED shares. Barclays increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Citigroup lifted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a report on Wednesday. Wells Fargo & Company raised their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price for the company. in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of "Hold" and a consensus price target of $104.18.

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.