Verition Fund Management LLC Acquires 10,736 Shares of Consolidated Edison, Inc. (NYSE:ED)

Verition Fund Management LLC boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 231.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,382 shares of the utilities provider's stock after acquiring an additional 10,736 shares during the period. Verition Fund Management LLC's holdings in Consolidated Edison were worth $1,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Pathway Financial Advisers LLC increased its position in shares of Consolidated Edison by 10,302.6% during the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider's stock valued at $2,546,000 after purchasing an additional 24,211 shares during the period. National Pension Service increased its holdings in Consolidated Edison by 7.0% in the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider's stock valued at $48,792,000 after buying an additional 30,838 shares during the period. Czech National Bank raised its stake in shares of Consolidated Edison by 8.5% in the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider's stock valued at $5,893,000 after buying an additional 5,161 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Consolidated Edison by 12.1% during the 2nd quarter. Parallel Advisors LLC now owns 8,032 shares of the utilities provider's stock worth $718,000 after acquiring an additional 869 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Consolidated Edison by 28.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 110,391 shares of the utilities provider's stock valued at $9,871,000 after acquiring an additional 24,432 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target for the company. Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. Scotiabank raised their target price on Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a research report on Tuesday, August 20th. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and upped their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Finally, Barclays cut their price objective on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $99.13.

Consolidated Edison Trading Down 1.7 %

Consolidated Edison stock traded down $1.68 during mid-day trading on Friday, hitting $94.82. The stock had a trading volume of 2,813,515 shares, compared to its average volume of 2,141,924. The stock has a 50-day simple moving average of $101.08 and a two-hundred day simple moving average of $98.21. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $32.85 billion, a PE ratio of 17.86, a P/E/G ratio of 3.24 and a beta of 0.36. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 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.