Zimmer Partners LP Acquires Shares of 261,875 Consolidated Edison, Inc. (NYSE:ED)

Zimmer Partners LP acquired a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 261,875 shares of the utilities provider's stock, valued at approximately $23,367,000. Zimmer Partners LP owned 0.08% of Consolidated Edison at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ED. Barclays PLC grew its stake in shares of Consolidated Edison by 30.1% in the 3rd quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock valued at $128,279,000 after purchasing an additional 285,115 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after purchasing an additional 82,985 shares during the period. Merit Financial Group LLC grew its stake in shares of Consolidated Edison by 54.0% in the 4th quarter. Merit Financial Group LLC now owns 9,133 shares of the utilities provider's stock valued at $815,000 after purchasing an additional 3,204 shares during the period. Sanibel Captiva Trust Company Inc. grew its stake in shares of Consolidated Edison by 38.7% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 3,389 shares of the utilities provider's stock valued at $302,000 after purchasing an additional 945 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of Consolidated Edison by 11.8% in the 4th quarter. HB Wealth Management LLC now owns 9,325 shares of the utilities provider's stock valued at $832,000 after purchasing an additional 981 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 1.0%

NYSE:ED opened at $105.33 on Tuesday. The stock's fifty day moving average price is $108.51 and its two-hundred day moving average price is $99.84. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week 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 $37.95 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 3.05 and a beta of 0.29.

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). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company posted $2.15 EPS. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is currently 62.85%.

Analyst Ratings Changes

Several research firms have recently weighed in on ED. Citigroup upped their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Scotiabank boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and a consensus target price of $104.36.

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.

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