Consolidated Edison, Inc. (NYSE:ED) Sees Significant Growth in Short Interest

Consolidated Edison, Inc. (NYSE:ED - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 6,190,000 shares, an increase of 9.6% from the March 31st total of 5,650,000 shares. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is presently 3.3 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its holdings in shares of Consolidated Edison by 10.0% during the 1st quarter. Van ECK Associates Corp now owns 86,598 shares of the utilities provider's stock worth $7,864,000 after buying an additional 7,908 shares during the last quarter. Fortis Group Advisors LLC grew its position in Consolidated Edison by 17.8% in the first quarter. Fortis Group Advisors LLC now owns 3,288 shares of the utilities provider's stock worth $299,000 after acquiring an additional 497 shares during the period. SWS Partners increased its stake in Consolidated Edison by 7.7% during the first quarter. SWS Partners now owns 26,125 shares of the utilities provider's stock worth $2,372,000 after acquiring an additional 1,861 shares during the last quarter. SpiderRock Advisors LLC purchased a new stake in Consolidated Edison in the first quarter valued at $510,000. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of Consolidated Edison by 5.4% in the 1st quarter. Joel Isaacson & Co. LLC now owns 23,914 shares of the utilities provider's stock valued at $2,172,000 after purchasing an additional 1,233 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of NYSE ED traded up $0.43 during mid-day trading on Tuesday, reaching $94.40. The company's stock had a trading volume of 3,726,385 shares, compared to its average volume of 1,883,729. The stock has a market capitalization of $32.62 billion, a P/E ratio of 13.09, a P/E/G ratio of 8.75 and a beta of 0.35. Consolidated Edison has a 1-year low of $80.46 and a 1-year high of $100.44. The stock has a 50-day moving average of $89.65 and a two-hundred day moving average of $89.97. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business's revenue was down 14.6% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. On average, equities research analysts anticipate that Consolidated Edison will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison's payout ratio is currently 46.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. KeyCorp raised shares of Consolidated Edison from an "underweight" rating to a "sector weight" rating in a research note on Thursday, January 4th. Barclays increased their price target on Consolidated Edison from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 14th. Royal Bank of Canada cut their price objective on Consolidated Edison from $94.00 to $93.00 and set a "sector perform" rating for the company in a research report on Friday, February 16th. UBS Group decreased their target price on Consolidated Edison from $99.00 to $94.00 and set a "neutral" rating on the stock in a research report on Friday, February 16th. Finally, LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a "neutral" rating and a $92.50 price target for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $87.54.

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.