Schonfeld Strategic Advisors LLC Has $8.27 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Schonfeld Strategic Advisors LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 188.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,710 shares of the utilities provider's stock after acquiring an additional 60,572 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Consolidated Edison were worth $8,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Consolidated Edison by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock valued at $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Consolidated Edison by 1.5% during 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 buying an additional 130,234 shares during the last quarter. Norges Bank bought a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $399,824,000. Northern Trust Corp increased its holdings in Consolidated Edison by 10.2% in the fourth 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. raised its position in Consolidated Edison by 27.9% during the fourth 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. Hedge funds and other institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the subject of several recent research reports. Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday. UBS Group upped their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Citigroup upped their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Finally, Barclays raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research note on Monday. One investment analyst has 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $105.80.

Consolidated Edison Stock Performance

Shares of NYSE ED traded down $0.50 during trading hours on Monday, hitting $109.53. 3,225,179 shares of the company's stock were exchanged, compared to its average volume of 2,228,665. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.05 and a beta of 0.27. The company's 50-day moving average price is $107.80 and its 200-day moving average price is $99.76. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. 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 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). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.10%. Consolidated Edison's payout ratio is 64.89%.

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.