AXQ Capital LP Acquires New Holdings in Consolidated Edison, Inc. (NYSE:ED)

AXQ Capital LP bought a new position in Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,869 shares of the utilities provider’s stock, valued at approximately $524,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the 4th quarter worth $27,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison in the fourth quarter worth about $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth about $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $107.85 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a 50 day moving average price of $97.91 and a 200 day moving average price of $98.40. The stock has a market capitalization of $37.40 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $109.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS 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 the consensus estimate of $3.63 billion. Analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.15%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ED. Morgan Stanley lifted their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group lifted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday. Barclays upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Finally, Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $102.40.

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.