Dynamic Technology Lab Private Ltd Buys New Stake in Consolidated Edison, Inc. (NYSE:ED)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,026 shares of the utilities provider’s stock, valued at approximately $1,608,000.

Other institutional investors also recently made changes to their positions in the company. KCM Investment Advisors LLC raised its stake in Consolidated Edison by 19.1% in the 4th quarter. KCM Investment Advisors LLC now owns 3,405 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 545 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Consolidated Edison during the fourth quarter worth about $18,018,000. ExodusPoint Capital Management LP grew its holdings in shares of Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider’s stock worth $97,564,000 after buying an additional 879,866 shares in the last quarter. Arete Wealth Advisors LLC raised its position in shares of Consolidated Edison by 60.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 5,174 shares of the utilities provider’s stock valued at $461,000 after buying an additional 1,958 shares during the last quarter. Finally, World Investment Advisors lifted its stake in shares of Consolidated Edison by 38.2% during the fourth quarter. World Investment Advisors now owns 6,011 shares of the utilities provider’s stock valued at $536,000 after buying an additional 1,662 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ED. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Barclays upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have issued 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 stock presently has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Stock Down 2.8 %

ED opened at $109.53 on Friday. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The firm has a 50 day moving average price of $101.43 and a 200 day moving average price of $98.77. 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 company has a market cap of $37.98 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion during 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%. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

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