Entropy Technologies LP Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Entropy Technologies LP raised its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 17.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,470 shares of the utilities provider's stock after acquiring an additional 9,468 shares during the period. Consolidated Edison makes up 0.7% of Entropy Technologies LP's portfolio, making the stock its 16th biggest holding. Entropy Technologies LP's holdings in Consolidated Edison were worth $6,713,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in shares of Consolidated Edison in the 1st quarter valued at approximately $498,000. Envestnet Portfolio Solutions Inc. raised its position in Consolidated Edison by 14.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,747 shares of the utilities provider's stock worth $1,430,000 after acquiring an additional 2,005 shares during the period. Empowered Funds LLC raised its position in shares of Consolidated Edison by 21.7% in the first quarter. Empowered Funds LLC now owns 13,770 shares of the utilities provider's stock valued at $1,250,000 after purchasing an additional 2,458 shares during the period. Atomi Financial Group Inc. purchased a new position in Consolidated Edison during the first quarter valued at approximately $322,000. Finally, Sei Investments Co. grew its stake in Consolidated Edison by 57.4% in the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider's stock worth $22,193,000 after buying an additional 89,080 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of NYSE ED traded down $1.41 during mid-day trading on Tuesday, reaching $97.07. The company had a trading volume of 2,682,768 shares, compared to its average volume of 1,866,531. The business's 50-day simple moving average is $103.29 and its 200 day simple moving average is $97.99. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.31 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. On average, research analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.42%. Consolidated Edison's dividend payout ratio is currently 62.52%.

Analyst Ratings Changes

ED has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research report on Friday. Scotiabank boosted their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a report on Tuesday, August 20th. Bank of America upped their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Finally, Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and upped their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and an average target price of $98.35.

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.