10,765 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by StoneX Group Inc.

StoneX Group Inc. purchased a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,765 shares of the utilities provider's stock, valued at approximately $961,000.

Several other hedge funds have also recently bought and sold shares of ED. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $27,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter worth about $36,000. OFI Invest Asset Management bought a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison during the fourth quarter worth approximately $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 2.8 %

Shares of NYSE ED traded down $3.19 during midday trading on Friday, reaching $109.53. The stock had a trading volume of 6,395,484 shares, compared to its average volume of 2,182,709. The company's 50 day moving average price is $101.43 and its 200 day moving average price is $98.73. 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 twelve month low of $87.28 and a twelve month high of $114.87. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.10%. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ED. UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Barclays raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research report on Monday, February 24th. Morgan Stanley upped their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $102.40.

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.