Capula Management Ltd Makes New $275,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Capula Management Ltd bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,086 shares of the utilities provider's stock, valued at approximately $275,000.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Consolidated Edison during the 3rd quarter worth about $776,000. JPMorgan Chase & Co. lifted its stake in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock worth $223,373,000 after acquiring an additional 82,985 shares during the period. Hennessy Advisors Inc. boosted its holdings in Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock valued at $12,772,000 after acquiring an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Consolidated Edison by 102.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock valued at $38,394,000 after purchasing an additional 217,981 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after purchasing an additional 4,451 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research note on Monday, February 24th. Citigroup boosted their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Finally, Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $102.80.

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Consolidated Edison Stock Up 1.6 %

Shares of Consolidated Edison stock traded up $1.75 during trading hours on Monday, reaching $111.59. The company's stock had a trading volume of 550,495 shares, compared to its average volume of 2,851,686. The company has a market capitalization of $40.19 billion, a P/E ratio of 21.30, a P/E/G ratio of 3.05 and a beta of 0.27. The stock's fifty day simple moving average is $103.19 and its two-hundred day simple moving average is $98.91. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.05%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison's payout ratio is currently 64.89%.

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.