Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 26.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,206 shares of the utilities provider's stock after purchasing an additional 3,576 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Consolidated Edison were worth $1,535,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $399,824,000. ExodusPoint Capital Management LP lifted its stake in Consolidated Edison by 412.0% during the 4th 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. lifted its position in Consolidated Edison by 27.9% during the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after purchasing an additional 812,885 shares during the period. Marshall Wace LLP boosted its holdings 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 purchasing an additional 736,348 shares during the last quarter. Finally, Burkehill Global Management LP acquired a new stake in Consolidated Edison during the 4th quarter worth about $53,538,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of ED traded down $1.20 during trading hours on Wednesday, hitting $102.78. 551,476 shares of the stock were exchanged, compared to its average volume of 2,281,936. The company has a market cap of $37.03 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The stock's 50-day moving average price is $108.17 and its two-hundred day moving average price is $100.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last posted 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 11.93% and a return on equity of 8.62%. 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 company earned $2.15 EPS. Research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.31%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is currently 62.85%.

Wall Street Analyst Weigh In

Several analysts recently commented on ED shares. Morgan Stanley dropped their target price on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a report on Thursday, May 22nd. Citigroup boosted 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. KeyCorp cut shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a report on Wednesday, May 14th. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $104.27.

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.