204,812 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Kettle Hill Capital Management LLC

Kettle Hill Capital Management LLC bought a new stake in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 204,812 shares of the utilities provider’s stock, valued at approximately $18,275,000. Consolidated Edison accounts for about 4.0% of Kettle Hill Capital Management LLC’s holdings, making the stock its 8th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Consolidated Edison by 30.1% in the 3rd quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock valued at $128,279,000 after buying an additional 285,115 shares in the last quarter. Tidal Investments LLC grew its stake in Consolidated Edison by 4.5% in the third quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider’s stock valued at $670,000 after acquiring an additional 276 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Consolidated Edison by 5.1% in the third quarter. Principal Financial Group Inc. now owns 477,722 shares of the utilities provider’s stock worth $49,745,000 after acquiring an additional 23,024 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares during the period. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Consolidated Edison by 60.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,194 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ED. Wells Fargo & Company increased their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Guggenheim raised their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.80.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $107.64 on Friday. The stock has a market capitalization of $38.78 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a 50 day moving average price of $108.57 and a 200 day moving average price of $99.90. 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 (NYSE:ED) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same quarter in the previous year, the firm posted $2.15 earnings per share. Analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s payout ratio is currently 62.85%.

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.