8,346 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by XTX Topco Ltd

XTX Topco Ltd acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 8,346 shares of the utilities provider’s stock, valued at approximately $745,000.

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

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $111.94 on Friday. The company has a 50-day simple moving average of $104.45 and a 200-day simple moving average of $99.19. 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 company has a market cap of $40.32 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.04%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ED. 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 report on Monday, February 24th. UBS Group lifted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays boosted their target price 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 raised their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Finally, Citigroup upped their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $102.80.

About Consolidated Edison

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.