ExodusPoint Capital Management LP Increases Holdings in Consolidated Edison, Inc. (NYSE:ED)

ExodusPoint Capital Management LP raised its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 412.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,093,402 shares of the utilities provider's stock after buying an additional 879,866 shares during the quarter. Consolidated Edison comprises about 0.7% of ExodusPoint Capital Management LP's holdings, making the stock its 15th largest position. ExodusPoint Capital Management LP owned about 0.32% of Consolidated Edison worth $97,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ED. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter valued at $27,000. Fairway Wealth LLC bought a new position in Consolidated Edison in the 4th quarter worth about $36,000. OFI Invest Asset Management purchased a new position in Consolidated Edison during the 4th quarter valued at about $35,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Morgan Stanley upped their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research report on Monday, February 24th. Scotiabank boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Finally, UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Two research 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 data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $102.40.

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Consolidated Edison Trading Up 2.6 %

ED traded up $2.70 during midday trading on Tuesday, reaching $108.10. 613,256 shares of the company's stock traded hands, compared to its average volume of 2,185,472. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a fifty day moving average of $101.64 and a two-hundred day moving average of $98.72. The stock has a market capitalization of $38.94 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. The company 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, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.15%. Consolidated Edison's payout ratio is presently 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.