Wealthfront Advisers LLC Purchases 50,582 Shares of Consolidated Edison Inc (NYSE:ED)

Wealthfront Advisers LLC boosted its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 52.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,679 shares of the utilities provider's stock after purchasing an additional 50,582 shares during the period. Wealthfront Advisers LLC's holdings in Consolidated Edison were worth $16,221,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ED. Norges Bank acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $399,824,000. GAMMA Investing LLC boosted its stake in 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 valued at $113,031,000 after purchasing an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP increased its stake in shares of Consolidated Edison by 412.0% in 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 purchasing an additional 879,866 shares during the period. Invesco Ltd. raised its stake in Consolidated Edison by 27.9% during the 4th 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 in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of 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 purchasing an additional 736,348 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Guggenheim lifted their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday. Morgan Stanley reduced their target price on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Finally, Barclays upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of "Hold" and an average target price of $105.09.

Consolidated Edison Stock Performance

Shares of NYSE ED traded up $0.24 during trading hours on Thursday, hitting $100.70. 2,131,708 shares of the company's stock were exchanged, compared to its average volume of 2,409,151. The company's 50-day moving average price is $101.95 and its 200-day moving average price is $101.56. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a market capitalization of $36.28 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.19 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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). The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. During the same quarter last year, the firm earned $2.15 earnings per share. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

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.