Dynamic Advisor Solutions LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 23.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,574 shares of the utilities provider’s stock after purchasing an additional 2,371 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Consolidated Edison were worth $1,066,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ED. Millennium Management LLC raised its position in Consolidated Edison by 2,195.8% during the 4th quarter. Millennium Management LLC now owns 1,142,312 shares of the utilities provider’s stock worth $87,341,000 after buying an additional 1,092,555 shares during the last quarter. Raymond James & Associates raised its position in Consolidated Edison by 4.2% during the 4th quarter. Raymond James & Associates now owns 165,079 shares of the utilities provider’s stock worth $12,622,000 after buying an additional 6,653 shares during the last quarter. Vanguard Group Inc raised its position in Consolidated Edison by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock worth $1,821,799,000 after buying an additional 356,339 shares during the last quarter. Paloma Partners Management Co raised its position in Consolidated Edison by 581.8% during the 3rd quarter. Paloma Partners Management Co now owns 10,035 shares of the utilities provider’s stock worth $765,000 after buying an additional 12,118 shares during the last quarter. Finally, Man Group plc raised its position in Consolidated Edison by 10.6% during the 3rd quarter. Man Group plc now owns 177,540 shares of the utilities provider’s stock worth $13,528,000 after buying an additional 17,038 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

NYSE:ED opened at $83.87 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.62. Consolidated Edison, Inc. has a fifty-two week low of $71.12 and a fifty-two week high of $85.87. The firm has a market cap of $27.52 billion, a PE ratio of 19.53, a P/E/G ratio of 9.65 and a beta of 0.12.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 21st. The utilities provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. Consolidated Edison had a net margin of 11.20% and a return on equity of 8.42%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 4.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 13th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, February 12th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.53%. Consolidated Edison’s dividend payout ratio is 68.52%.

A number of equities analysts have commented on ED shares. Evercore ISI downgraded shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price objective for the company. in a research report on Tuesday, February 12th. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Wednesday, February 13th. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a research report on Friday, January 18th. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Credit Suisse Group upped their price objective on shares of Consolidated Edison from $77.00 to $78.00 and gave the stock an “underperform” rating in a research report on Monday, February 25th. Five equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $77.34.

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About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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