D.A. Davidson & CO. Has $1.91 Million Stake in Consolidated Edison Inc (NYSE:ED)

D.A. Davidson & CO. boosted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 55.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,295 shares of the utilities provider's stock after acquiring an additional 6,145 shares during the period. D.A. Davidson & CO.'s holdings in Consolidated Edison were worth $1,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Norges Bank bought a new position in shares of Consolidated Edison during the 4th quarter worth about $399,824,000. GAMMA Investing LLC increased its holdings in shares of Consolidated Edison by 15,937.5% during the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock worth $113,031,000 after purchasing an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP increased its stake 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. increased its stake in Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after acquiring an additional 812,885 shares during the period. Finally, Marshall Wace LLP increased its stake in Consolidated Edison by 232.3% in the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock valued at $93,989,000 after acquiring an additional 736,348 shares during the period. Institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

ED has been the topic of a number of analyst reports. Mizuho raised shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and upped their target price for the company from $105.00 to $107.00 in a research note on Monday, June 30th. Barclays upped their target price 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. Citigroup upped their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Morgan Stanley lowered their target price 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. Finally, Guggenheim upped their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of "Hold" and a consensus target price of $105.27.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $99.63 on Tuesday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The firm's 50-day moving average price is $103.47 and its two-hundred day moving average price is $101.20. The stock has a market capitalization of $35.90 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 3.20 and a beta of 0.26. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. On average, equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.41%. Consolidated Edison's payout ratio is 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.

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