Tower Research Capital LLC TRC Has $1.93 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Tower Research Capital LLC TRC reduced its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,615 shares of the utilities provider's stock after selling 2,993 shares during the period. Tower Research Capital LLC TRC's holdings in Consolidated Edison were worth $1,929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth $27,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter worth $36,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison during the 4th quarter worth about $35,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the fourth quarter valued at about $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock traded up $0.06 during trading hours on Monday, hitting $110.51. 685,853 shares of the stock were exchanged, compared to its average volume of 2,782,819. The stock has a market capitalization of $39.81 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.05 and a beta of 0.27. The business's 50-day moving average is $106.42 and its two-hundred day moving average is $99.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. 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 released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.08%. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ED shares. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley set a $94.00 price target on shares of Consolidated Edison and gave the company an "overweight" rating in a report on Wednesday. Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Barclays lifted their target price on shares of Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and an average target price of $103.60.

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.