Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 17.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 64,470 shares of the utilities provider’s stock after purchasing an additional 9,468 shares during the period. Consolidated Edison accounts for approximately 0.7% of Entropy Technologies LP’s holdings, making the stock its 16th biggest holding. Entropy Technologies LP’s holdings in Consolidated Edison were worth $6,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ED. GSA Capital Partners LLP acquired a new position in shares of Consolidated Edison during the first quarter valued at approximately $498,000. Envestnet Portfolio Solutions Inc. raised its holdings in Consolidated Edison by 14.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,747 shares of the utilities provider’s stock worth $1,430,000 after acquiring an additional 2,005 shares during the period. Empowered Funds LLC grew its position in Consolidated Edison by 21.7% in the 1st quarter. Empowered Funds LLC now owns 13,770 shares of the utilities provider’s stock worth $1,250,000 after purchasing an additional 2,458 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Consolidated Edison in the 1st quarter worth $322,000. Finally, Sei Investments Co. boosted its position in shares of Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after acquiring an additional 89,080 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ED. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Wells Fargo & Company upped their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank upped their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Guggenheim increased their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned 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.com, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $98.35.

Consolidated Edison Stock Up 0.4 %

Shares of ED opened at $98.48 on Tuesday. The firm has a market cap of $34.09 billion, a P/E ratio of 18.55, a P/E/G ratio of 3.31 and a beta of 0.36. The stock has a 50 day simple moving average of $103.35 and a two-hundred day simple moving average of $97.96. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. On average, analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.37%. Consolidated Edison’s payout ratio is 62.52%.

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.