Consolidated Edison Inc (NYSE:ED) Shares Purchased by Mather Group LLC.

Mather Group LLC. raised its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 91.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,199 shares of the utilities provider's stock after acquiring an additional 4,871 shares during the period. Mather Group LLC.'s holdings in Consolidated Edison were worth $1,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Consolidated Edison during the 4th quarter worth approximately $399,824,000. GAMMA Investing LLC raised its stake 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 buying an additional 1,015,700 shares in the last quarter. ExodusPoint Capital Management LP raised its stake in shares of 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 worth $97,564,000 after buying an additional 879,866 shares in the last quarter. Invesco Ltd. raised 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 buying an additional 812,885 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Consolidated Edison by 232.3% during the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after buying an additional 736,348 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Mizuho raised Consolidated Edison from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $105.00 to $107.00 in a research note on Monday, June 30th. KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research note on Wednesday, May 14th. UBS Group raised their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Barclays raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $105.27.

Consolidated Edison Trading Up 0.2%

Shares of ED stock traded up $0.16 during mid-day trading on Friday, hitting $100.08. 1,316,576 shares of the company's stock were exchanged, compared to its average volume of 2,390,967. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a 50-day simple moving average of $103.70 and a two-hundred day simple moving average of $101.04. 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 stock has a market cap of $36.06 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 3.20 and a beta of 0.26.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $2.15 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) 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.