GAMMA Investing LLC Increases Stock Position in Consolidated Edison Inc (NYSE:ED)

GAMMA Investing LLC boosted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 45.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,242 shares of the utilities provider's stock after purchasing an additional 2,869 shares during the quarter. GAMMA Investing LLC's holdings in Consolidated Edison were worth $1,022,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in Consolidated Edison in the 4th quarter valued at approximately $35,000. Wood Tarver Financial Group LLC bought a new stake in Consolidated Edison during the 4th quarter worth approximately $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at $36,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the fourth quarter worth $44,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth $45,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.4%

NYSE ED traded up $0.39 during trading on Tuesday, hitting $100.74. 2,749,128 shares of the company's stock traded hands, compared to its average volume of 2,380,601. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a fifty day moving average of $104.64 and a two-hundred day moving average of $100.84. The firm has a market cap of $36.30 billion, a P/E ratio of 18.25, a PEG ratio of 3.20 and a beta of 0.26. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same period in the prior year, the business posted $2.15 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were paid 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 dividend payout ratio is presently 62.85%.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Citigroup boosted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price on the stock. in a report on Wednesday, May 14th. Morgan Stanley dropped their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Finally, Barclays raised their target price on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.