Vident Advisory LLC Buys 32,488 Shares of Consolidated Edison, Inc. (NYSE:ED)

Vident Advisory LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 236.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,233 shares of the utilities provider's stock after acquiring an additional 32,488 shares during the period. Vident Advisory LLC's holdings in Consolidated Edison were worth $4,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Vanguard Group Inc. lifted its position in shares of Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after acquiring an additional 130,234 shares during the last quarter. Norges Bank acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $399,824,000. Northern Trust Corp lifted its position in shares of Consolidated Edison by 10.2% in the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock worth $375,458,000 after buying an additional 390,708 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Consolidated Edison by 27.9% in the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after buying an additional 812,885 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ED shares. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Citigroup lifted their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. UBS Group raised their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. KeyCorp cut Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, Barclays upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $104.27.

Consolidated Edison Trading Up 0.6%

Shares of NYSE:ED traded up $0.60 during mid-day trading on Monday, hitting $104.02. The stock had a trading volume of 2,116,035 shares, compared to its average volume of 2,287,342. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $37.48 billion, a PE ratio of 19.85, a P/E/G ratio of 3.05 and a beta of 0.29. The company's 50 day moving average is $108.33 and its 200-day moving average is $100.00.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The business 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 last year, the firm earned $2.15 EPS. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. 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.