GAMMA Investing LLC Has $675,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

GAMMA Investing LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 30.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,481 shares of the utilities provider’s stock after acquiring an additional 1,505 shares during the quarter. GAMMA Investing LLC’s holdings in Consolidated Edison were worth $675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Massmutual Trust Co. FSB ADV increased its position in shares of Consolidated Edison by 2,486.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock worth $1,977,000 after buying an additional 20,934 shares during the period. Sei Investments Co. increased its position in shares of Consolidated Edison by 57.4% during the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after buying an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Consolidated Edison by 153.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after buying an additional 148,988 shares during the period. Mizuho Markets Americas LLC increased its position in shares of Consolidated Edison by 121.1% during the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock worth $10,323,000 after buying an additional 62,260 shares during the period. Finally, AMF Tjanstepension AB acquired a new stake in shares of Consolidated Edison during the first quarter worth $13,193,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.0 %

Consolidated Edison stock opened at $102.11 on Wednesday. Consolidated Edison, Inc. has a 1-year low of $85.15 and a 1-year high of $105.99. The firm has a market capitalization of $35.31 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. The firm’s fifty day moving average price is $102.13 and its two-hundred day moving average price is $95.78. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm earned $0.61 earnings per share. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s payout ratio is currently 63.72%.

Analyst Upgrades and Downgrades

ED has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Bank of America increased their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. UBS Group increased their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Finally, Scotiabank increased their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $93.88.

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.