Versor Investments LP Takes Position in Consolidated Edison, Inc. (NYSE:ED)

Versor Investments LP acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,670 shares of the utilities provider’s stock, valued at approximately $1,131,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Proficio Capital Partners LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $10,371,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Consolidated Edison by 3.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,932 shares of the utilities provider’s stock worth $2,046,000 after buying an additional 758 shares during the period. Gulf International Bank UK Ltd boosted its holdings in shares of Consolidated Edison by 5.1% during the 4th quarter. Gulf International Bank UK Ltd now owns 28,819 shares of the utilities provider’s stock worth $2,571,000 after buying an additional 1,388 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Consolidated Edison by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 134,600 shares of the utilities provider’s stock worth $12,010,000 after buying an additional 2,200 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Consolidated Edison by 3.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 5,757 shares of the utilities provider’s stock worth $514,000 after buying an additional 208 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.1 %

Shares of Consolidated Edison stock opened at $100.05 on Friday. The firm has a market capitalization of $34.69 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average is $92.90 and its 200 day moving average is $97.98. 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 quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share 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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. 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 note on Monday. Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus target price 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.