SG Americas Securities LLC Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

SG Americas Securities LLC lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 1,103.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,707 shares of the utilities provider's stock after acquiring an additional 291,303 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Consolidated Edison worth $35,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in Consolidated Edison in the 4th quarter worth approximately $36,000. Wood Tarver Financial Group LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth $35,000. OFI Invest Asset Management purchased a new position in shares of Consolidated Edison during the 4th quarter worth $35,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Consolidated Edison during the 4th quarter worth $44,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

ED stock traded up $0.38 during midday trading on Friday, hitting $104.14. 1,256,385 shares of the stock traded hands, compared to its average volume of 2,290,571. The firm has a market cap of $37.52 billion, a P/E ratio of 19.89, a PEG ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock's fifty day simple moving average is $106.78 and its 200-day simple moving average is $100.50. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87.

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). The company had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same period in the previous year, the business earned $2.15 earnings per share. On average, analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Guggenheim lifted 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. Barclays boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, Morgan Stanley cut their price target on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.