Trexquant Investment LP Has $12.83 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Trexquant Investment LP raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 204.1% in the 4th quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ED. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after acquiring an additional 488,752 shares during the last quarter. State Street Corp increased its position in Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. Geode Capital Management LLC raised its holdings in Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock worth $799,684,000 after purchasing an additional 130,234 shares during the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $399,824,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Consolidated Edison by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after purchasing an additional 77,323 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on ED. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Finally, Morgan Stanley boosted their price target on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Trading Down 0.5 %

NYSE ED opened at $110.07 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $111.11. The business has a 50 day moving average price of $100.24 and a 200-day moving average price of $98.56. The company has a market cap of $38.17 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio 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.