AXQ Capital LP Acquires Shares of 5,869 Consolidated Edison, Inc. (NYSE:ED)

AXQ Capital LP bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 5,869 shares of the utilities provider’s stock, valued at approximately $524,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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 report on Friday. Morgan Stanley increased their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Trading Down 0.6 %

Shares of ED opened at $107.85 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $109.36. The firm has a market cap of $37.40 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.05 and a beta of 0.30. The business’s fifty day moving average is $97.91 and its 200-day moving average is $98.40.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $3.63 billion. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

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.