Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 1,499.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,303 shares of the utilities provider’s stock after purchasing an additional 107,158 shares during the period. Consolidated Edison comprises about 0.7% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 8th largest holding. Y Intercept Hong Kong Ltd’s holdings in Consolidated Edison were worth $10,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the 3rd quarter worth about $30,000. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $39,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison during the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 2.6 %

Shares of NYSE:ED opened at $98.27 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 company has a market cap of $34.04 billion, a PE ratio of 18.75, a P/E/G ratio of 3.05 and a beta of 0.39. The stock’s 50-day moving average is $92.09 and its 200 day moving average is $97.96. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

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

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of analyst reports. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Morgan Stanley reduced 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 report on Friday, November 22nd. Barclays dropped their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.70.

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.