15,370 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,370 shares of the utilities provider's stock, valued at approximately $1,371,000.

Several other large investors also recently made changes to their positions in ED. United Bank acquired a new stake in Consolidated Edison in the third quarter valued at $227,000. FMR LLC grew its holdings in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after purchasing an additional 572,530 shares during the period. Townsquare Capital LLC grew its holdings in Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock worth $580,000 after purchasing an additional 130 shares during the period. CreativeOne Wealth LLC increased its position in Consolidated Edison by 11.9% during the third quarter. CreativeOne Wealth LLC now owns 3,415 shares of the utilities provider's stock worth $356,000 after buying an additional 363 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in Consolidated Edison by 231.1% in the third quarter. Verition Fund Management LLC now owns 15,382 shares of the utilities provider's stock valued at $1,602,000 after buying an additional 10,736 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of recent analyst reports. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Mizuho raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley boosted their price objective on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $102.40.

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Consolidated Edison Price Performance

NYSE ED traded down $3.46 on Monday, hitting $105.86. 1,415,908 shares of the company's stock were exchanged, compared to its average volume of 2,807,759. The stock has a 50-day moving average of $101.43 and a 200-day moving average of $98.70. The stock has a market cap of $38.13 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a $0.85 dividend. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.21%. Consolidated Edison's dividend payout ratio is presently 64.89%.

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.