Trexquant Investment LP Increases Stake in Consolidated Edison, Inc. (NYSE:ED)

Trexquant Investment LP lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 204.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,782 shares of the utilities provider's stock after purchasing an additional 96,503 shares during the quarter. Trexquant Investment LP's holdings in Consolidated Edison were worth $12,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $35,000. Fairway Wealth LLC bought a new stake in Consolidated Edison during the 4th quarter worth approximately $36,000. Centricity Wealth Management LLC acquired a new position in Consolidated Edison in the 4th quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison during the fourth quarter valued at $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 2.8 %

Consolidated Edison stock traded down $3.19 during mid-day trading on Friday, reaching $109.53. The stock had a trading volume of 6,395,484 shares, compared to its average volume of 2,182,709. The stock's 50-day simple moving average is $101.43 and its 200-day simple moving average is $98.73. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. 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 firm has a market capitalization 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.

Remove Ads

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

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.10%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's dividend payout ratio (DPR) is currently 64.89%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ED shares. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Barclays upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research report on Monday, February 24th. Morgan Stanley raised their price objective on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Finally, Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. 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 given a strong buy rating to the company's stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and a consensus price target of $102.40.

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.