31,166 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,166 shares of the utilities provider’s stock, valued at approximately $2,781,000.

A number of other hedge funds also recently made changes to their positions in ED. United Bank acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $227,000. Empowered Funds LLC boosted its holdings in shares of Consolidated Edison by 7.6% in the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock valued at $602,000 after purchasing an additional 409 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Consolidated Edison by 11.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock valued at $3,655,000 after purchasing an additional 3,716 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Consolidated Edison by 10.2% during the 3rd quarter. Pathstone Holdings LLC now owns 37,528 shares of the utilities provider’s stock valued at $3,908,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Consolidated Edison by 30.6% during the 3rd quarter. Caprock Group LLC now owns 4,426 shares of the utilities provider’s stock valued at $461,000 after acquiring an additional 1,038 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several recent research reports. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday. Mizuho lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Barclays lifted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $107.85 on Friday. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $109.36. The company has a market capitalization of $37.40 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm’s fifty day moving average price is $97.91 and its 200 day moving average price is $98.40.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

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.