14,596 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Scientech Research LLC

Scientech Research LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,596 shares of the utilities provider's stock, valued at approximately $1,302,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Consolidated Edison in the fourth quarter worth approximately $399,824,000. ExodusPoint Capital Management LP boosted its holdings in shares of Consolidated Edison by 412.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after buying an additional 879,866 shares in the last quarter. Invesco Ltd. grew its position in shares of Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after buying an additional 812,885 shares during the period. Marshall Wace LLP increased its stake in shares of Consolidated Edison by 232.3% in the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock valued at $93,989,000 after acquiring an additional 736,348 shares in the last quarter. Finally, Burkehill Global Management LP acquired a new stake in Consolidated Edison in the fourth quarter worth $53,538,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Consolidated Edison stock traded down $1.22 during mid-day trading on Thursday, reaching $104.01. 710,672 shares of the company's stock traded hands, compared to its average volume of 2,283,933. The stock has a 50 day moving average of $108.50 and a two-hundred day moving average of $99.92. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $37.47 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly 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). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the firm posted $2.15 EPS. Equities analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company 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 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 3.27%. Consolidated Edison's dividend payout ratio is currently 62.85%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Guggenheim lifted their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Morgan Stanley lowered their price objective on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research note on Thursday. Finally, Citigroup raised their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and an average price target of $104.27.

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.