Dynamic Technology Lab Private Ltd Buys Shares of 18,026 Consolidated Edison, Inc. (NYSE:ED)

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

Several other hedge funds have also recently added to or reduced their stakes in ED. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the fourth quarter worth approximately $35,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the 4th quarter valued at $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Consolidated Edison in the 4th quarter worth $44,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 2.1 %

Shares of ED traded up $2.20 during mid-day trading on Thursday, reaching $107.97. The company's stock had a trading volume of 1,060,399 shares, compared to its average volume of 2,207,063. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $38.89 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The business has a fifty day moving average of $102.63 and a 200 day moving average of $98.85.

Remove Ads

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. 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 yield of 3.15%. Consolidated Edison's payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of several research reports. Morgan Stanley raised their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Barclays lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research note on Monday, February 24th. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Citigroup upped their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and an average price target of $102.80.

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.