Machina Capital S.A.S. Buys New Shares in Consolidated Edison, Inc. (NYSE:ED)

Machina Capital S.A.S. bought a new stake in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,282 shares of the utilities provider’s stock, valued at approximately $828,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Consolidated Edison during the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison during the third quarter worth $30,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the fourth quarter worth $39,000. Finally, FSA Wealth Management LLC bought a new position in Consolidated Edison during the third quarter worth $55,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 2.8 %

ED stock opened at $103.73 on Friday. The company has a market cap of $35.97 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The business has a 50-day simple moving average of $94.39 and a 200 day simple moving average of $98.03. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.28%. Consolidated Edison’s payout ratio is presently 64.89%.

Analysts Set New Price Targets

A number of equities analysts have commented on ED shares. Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.50.

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.