Consolidated Edison, Inc. (NYSE:ED) Position Boosted by Jump Financial LLC

Jump Financial LLC raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 697.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,671 shares of the utilities provider's stock after buying an additional 60,060 shares during the period. Jump Financial LLC's holdings in Consolidated Edison were worth $6,128,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Consolidated Edison by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock valued at $3,788,319,000 after acquiring an additional 488,752 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after buying an additional 130,234 shares in the last quarter. Norges Bank acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $399,824,000. Invesco Ltd. increased its holdings in Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Consolidated Edison by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider's stock worth $198,625,000 after buying an additional 77,323 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded down $0.37 on Monday, hitting $111.73. The company's stock had a trading volume of 194,138 shares, compared to its average volume of 2,188,470. The company has a market capitalization of $40.25 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. 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, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The stock's 50-day moving average is $104.76 and its two-hundred day moving average is $99.17.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its 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. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is currently 64.89%.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Barclays boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a report on Monday, February 24th. Citigroup boosted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Morgan Stanley increased their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Finally, Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and an average price target of $102.80.

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.