Aster Capital Management DIFC Ltd Has $322,000 Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Aster Capital Management DIFC Ltd grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,608 shares of the utilities provider’s stock after acquiring an additional 452 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Consolidated Edison were worth $322,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. United Bank acquired a new stake in shares of Consolidated Edison in the third quarter valued at about $227,000. Janus Henderson Group PLC increased its position in shares of Consolidated Edison by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 54,440 shares of the utilities provider’s stock worth $5,669,000 after purchasing an additional 1,500 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $872,000. Royal London Asset Management Ltd. boosted its holdings in shares of Consolidated Edison by 3.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 142,600 shares of the utilities provider’s stock valued at $14,849,000 after buying an additional 4,560 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Consolidated Edison by 42.6% in the third quarter. Quantinno Capital Management LP now owns 43,941 shares of the utilities provider’s stock valued at $4,576,000 after buying an additional 13,124 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

ED opened at $109.53 on Monday. 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 business has a fifty day simple moving average of $101.43 and a 200 day simple moving average of $98.70. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a market capitalization of $39.45 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27.

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

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.10%. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ED. Barclays increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Morgan Stanley lifted their price target on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. UBS Group upped their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $102.40.

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.