Quantinno Capital Management LP Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

Quantinno Capital Management LP lifted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 42.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,941 shares of the utilities provider's stock after acquiring an additional 13,124 shares during the period. Quantinno Capital Management LP's holdings in Consolidated Edison were worth $4,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its holdings in shares of Consolidated Edison by 10,302.6% in the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider's stock worth $2,546,000 after buying an additional 24,211 shares during the last quarter. National Pension Service lifted its holdings in Consolidated Edison by 7.0% in the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider's stock worth $48,792,000 after purchasing an additional 30,838 shares in the last quarter. Czech National Bank boosted its stake in Consolidated Edison by 8.5% in the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider's stock worth $5,893,000 after purchasing an additional 5,161 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Consolidated Edison by 12.1% in the second quarter. Parallel Advisors LLC now owns 8,032 shares of the utilities provider's stock worth $718,000 after buying an additional 869 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Consolidated Edison by 28.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 110,391 shares of the utilities provider's stock worth $9,871,000 after acquiring an additional 24,432 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 1.7 %

Shares of ED traded down $1.68 during trading hours on Friday, reaching $94.82. 2,813,515 shares of the company traded hands, compared to its average volume of 2,141,924. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.24 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The stock's fifty day moving average price is $101.08 and its 200 day moving average price is $98.21. 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 - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.52%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, November 22nd. Scotiabank raised their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th. UBS Group increased their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Barclays dropped their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a "hold" rating and a $108.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $99.13.

Consolidated Edison 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.