Quantbot Technologies LP Acquires New Position in Consolidated Edison, Inc. (NYSE:ED)

Quantbot Technologies LP acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,166 shares of the utilities provider’s stock, valued at approximately $2,781,000.

A number of other institutional investors have also modified their holdings of ED. United Bank bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $227,000. Empowered Funds LLC grew its position in shares of Consolidated Edison by 7.6% during the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock valued at $602,000 after buying an additional 409 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Consolidated Edison by 11.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock valued at $3,655,000 after buying an additional 3,716 shares during the last quarter. Pathstone Holdings LLC grew its position in shares of Consolidated Edison by 10.2% during the 3rd quarter. Pathstone Holdings LLC now owns 37,528 shares of the utilities provider’s stock valued at $3,908,000 after buying an additional 3,475 shares during the last quarter. Finally, Caprock Group LLC grew its position in shares of Consolidated Edison by 30.6% during the 3rd quarter. Caprock Group LLC now owns 4,426 shares of the utilities provider’s stock valued at $461,000 after buying an additional 1,038 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.6 %

Shares of NYSE:ED opened at $107.85 on Friday. The company has a 50 day moving average of $97.91 and a 200-day moving average of $98.40. The firm has a market cap of $37.40 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $109.36. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

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

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent research reports. Scotiabank boosted 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 report on Monday, February 24th. Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays boosted their target price 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. Finally, UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.40.

About Consolidated Edison

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.