Voya Investment Management LLC Has $10.63 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Voya Investment Management LLC lowered its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,149 shares of the utilities provider's stock after selling 21,523 shares during the period. Voya Investment Management LLC's holdings in Consolidated Edison were worth $10,632,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Consolidated Edison during the fourth quarter valued at about $399,824,000. ExodusPoint Capital Management LP raised its position 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. raised 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 in the last quarter. Marshall Wace LLP lifted 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 worth $93,989,000 after acquiring an additional 736,348 shares during the period. Finally, Burkehill Global Management LP bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $53,538,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Trading Down 2.2 %

NYSE ED traded down $2.49 on Friday, hitting $110.07. 3,421,756 shares of the company were exchanged, compared to its average volume of 2,224,664. 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 twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market capitalization of $39.65 billion, a P/E ratio of 21.01, a price-to-earnings-growth 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.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the firm earned $2.15 EPS. Analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. Consolidated Edison's payout ratio is currently 64.89%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ED shares. 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. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Barclays raised their target price on Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research note on Tuesday, April 22nd. Citigroup boosted their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Finally, Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of "Hold" and an average target price of $105.70.

Consolidated Edison 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.