Twinbeech Capital LP Invests $3.92 Million in Consolidated Edison, Inc. (NYSE:ED)

Twinbeech Capital LP bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,893 shares of the utilities provider's stock, valued at approximately $3,917,000.

Other large investors have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the 4th quarter worth $27,000. OFI Invest Asset Management bought a new position in Consolidated Edison during the 4th quarter worth $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the 4th quarter worth $36,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the 4th quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the 4th quarter worth about $44,000. 66.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ED shares. Scotiabank lifted their price objective 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 lifted their price objective 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. Barclays lifted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research report on Wednesday, May 14th. Finally, Morgan Stanley lowered their price objective on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and a consensus price target of $104.27.

Consolidated Edison Stock Up 0.6%

Shares of ED traded up $0.60 during trading hours on Friday, hitting $104.02. The stock had a trading volume of 2,116,035 shares, compared to its average volume of 2,284,749. 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 firm has a 50 day simple moving average of $108.33 and a 200-day simple moving average of $99.98. The firm has a market capitalization of $37.48 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. 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 issued its earnings results 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 during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the business earned $2.15 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. Consolidated Edison's dividend payout ratio (DPR) is currently 62.85%.

About Consolidated Edison

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.