41,392 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by AlphaQuest LLC

AlphaQuest LLC acquired a new position in 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 institutional investor acquired 41,392 shares of the utilities provider’s stock, valued at approximately $3,693,000. Consolidated Edison comprises approximately 0.5% of AlphaQuest LLC’s holdings, making the stock its largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison in the third quarter worth approximately $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison in the fourth quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison in the third quarter worth approximately $30,000. OFI Invest Asset Management acquired a new position in Consolidated Edison in the fourth quarter worth approximately $35,000. Finally, Centricity Wealth Management LLC acquired a new position in Consolidated Edison in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. UBS Group upped their target price on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Up 2.8 %

ED opened at $103.73 on Friday. Consolidated Edison, Inc. has a 1-year low of $87.16 and a 1-year high of $107.75. 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 stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.05 and a beta of 0.30. The business has a 50 day moving average of $94.39 and a 200-day moving average of $98.03.

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

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is 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.