Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,437 shares of the utilities provider’s stock after buying an additional 276 shares during the period. Tidal Investments LLC’s holdings in Consolidated Edison were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. State Street Corp increased its holdings in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after acquiring an additional 399,034 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after buying an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Consolidated Edison by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock worth $223,741,000 after buying an additional 28,254 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Consolidated Edison by 0.8% during the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after buying an additional 11,785 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after acquiring an additional 125,859 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

ED opened at $90.03 on Friday. The firm’s fifty day simple moving average is $98.83 and its two-hundred day simple moving average is $98.06. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The company has a market cap of $31.19 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.11 and a beta of 0.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Analysts Set New Price Targets

Several analysts have weighed in on ED shares. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Barclays decreased their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $99.96.

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.