Aigen Investment Management LP Sells 243 Shares of Consolidated Edison, Inc. (NYSE:ED)

Aigen Investment Management LP decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,191 shares of the utilities provider’s stock after selling 243 shares during the period. Aigen Investment Management LP’s holdings in Consolidated Edison were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CreativeOne Wealth LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $258,000. Corient Private Wealth LLC grew its position in shares of Consolidated Edison by 4.6% in the fourth quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock valued at $15,958,000 after purchasing an additional 7,725 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Consolidated Edison by 15.4% in the fourth quarter. D.A. Davidson & CO. now owns 8,147 shares of the utilities provider’s stock valued at $741,000 after purchasing an additional 1,090 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Consolidated Edison by 26.9% during the fourth quarter. Clearbridge Investments LLC now owns 28,166 shares of the utilities provider’s stock worth $2,562,000 after purchasing an additional 5,973 shares during the period. Finally, Philadelphia Trust Co. lifted its holdings in Consolidated Edison by 18.9% during the 4th quarter. Philadelphia Trust Co. now owns 13,641 shares of the utilities provider’s stock worth $1,241,000 after purchasing an additional 2,165 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.9 %

Shares of ED opened at $95.31 on Thursday. The firm has a 50 day simple moving average of $92.39 and a two-hundred day simple moving average of $90.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $98.85. The company has a market cap of $32.96 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.45 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the company posted $1.83 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts forecast that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is 63.72%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of research reports. Royal Bank of Canada decreased their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Scotiabank lowered their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. UBS Group dropped their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Barclays lifted their price target on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $88.46.

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.