Aigen Investment Management LP Buys 24,118 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aigen Investment Management LP lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 135.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,881 shares of the utilities provider's stock after purchasing an additional 24,118 shares during the period. Consolidated Edison accounts for 0.9% of Aigen Investment Management LP's holdings, making the stock its 11th biggest position. Aigen Investment Management LP's holdings in Consolidated Edison were worth $4,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ED. Hsbc Holdings PLC boosted its stake in Consolidated Edison by 0.8% in 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Consolidated Edison by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider's stock worth $113,845,000 after purchasing an additional 125,859 shares during the period. Clean Energy Transition LLP grew its stake in Consolidated Edison by 227.9% during the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock worth $80,259,000 after purchasing an additional 623,787 shares during the period. AQR Capital Management LLC increased its holdings in shares of Consolidated Edison by 5.5% during the second quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider's stock valued at $63,413,000 after acquiring an additional 36,991 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider's stock valued at $63,396,000 after acquiring an additional 532,893 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and upped their price target for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Bank of America upped their price target on Consolidated Edison from $97.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Barclays decreased their price target on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday. UBS Group upped their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $98.35.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock traded down $1.41 during trading on Tuesday, hitting $97.07. 2,682,768 shares of the stock traded hands, compared to its average volume of 1,866,531. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The stock has a market cap of $33.63 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.31 and a beta of 0.36. The firm's fifty day moving average is $103.29 and its 200-day moving average is $97.99. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.42%. Consolidated Edison's payout ratio is 62.52%.

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.