ORG Wealth Partners LLC Boosts Position in Consolidated Edison Inc (NYSE:ED)

ORG Wealth Partners LLC boosted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 144.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,741 shares of the utilities provider's stock after acquiring an additional 3,389 shares during the quarter. ORG Wealth Partners LLC's holdings in Consolidated Edison were worth $632,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ED. Norges Bank purchased a new stake in Consolidated Edison during the fourth quarter valued at $399,824,000. GAMMA Investing LLC increased its position in Consolidated Edison by 15,937.5% during the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after acquiring an additional 1,015,700 shares during the last quarter. ExodusPoint Capital Management LP increased its position in Consolidated Edison by 412.0% during 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 last quarter. Invesco Ltd. increased 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 acquiring an additional 812,885 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Consolidated Edison by 232.3% during 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 last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on ED shares. Barclays upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Wells Fargo & Company upped their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. UBS Group upped their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Morgan Stanley reduced their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $104.18.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $100.66 on Thursday. The stock has a 50 day moving average of $106.46 and a 200 day moving average of $100.51. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market cap of $36.27 billion, a PE ratio of 18.61, a PEG ratio of 3.23 and a beta of 0.27. 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 quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the company posted $2.15 earnings per share. On average, research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Consolidated Edison 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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