Eisler Capital UK Ltd. Buys New Stake in Consolidated Edison, Inc. (NYSE:ED)

Eisler Capital UK Ltd. purchased a new position in Consolidated Edison, Inc. (NYSE:EDFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,889 shares of the utilities provider’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $243,511,000. International Assets Investment Management LLC lifted its holdings in shares of Consolidated Edison by 9,063.6% during the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock valued at $47,216,000 after acquiring an additional 513,364 shares during the period. Northern Trust Corp boosted its stake in shares of Consolidated Edison by 8.2% in the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after purchasing an additional 340,239 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of Consolidated Edison in the 3rd quarter worth about $28,156,000. Finally, Retirement Systems of Alabama increased its position in shares of Consolidated Edison by 408.8% during the 4th quarter. Retirement Systems of Alabama now owns 396,849 shares of the utilities provider’s stock worth $36,101,000 after purchasing an additional 318,858 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock opened at $92.57 on Thursday. The firm has a market cap of $32.01 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.38 and a beta of 0.35. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $98.85. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $93.31 and a 200 day moving average price of $91.18.

Consolidated Edison (NYSE:EDGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the company earned $1.83 EPS. Consolidated Edison’s revenue was down 2.8% on a year-over-year basis. Research analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is 63.72%.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Consolidated Edison from $73.00 to $80.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th. Barclays boosted their target price on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Mizuho raised their price target on Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Royal Bank of Canada reduced their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Finally, Scotiabank lowered their target price on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average target price of $89.46.

Read Our Latest Research Report on Consolidated Edison

About Consolidated Edison

(Free Report)

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.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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