Consolidated Edison Inc (NYSE:ED) Shares Bought by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC increased its holdings in Consolidated Edison Inc by 71.7%, acquiring 3,190 additional shares, bringing their total to 7,638 shares valued at $845,000.
• Consolidated Edison reported $2.25 earnings per share, missing analysts' consensus estimates of $2.30, and had revenues of $4.80 billion for the latest quarter.
• The company announced a quarterly dividend of $0.85, representing an annualized dividend yield of 3.3%, payable to investors of record on August 13th.

Blueshift Asset Management LLC raised its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 71.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,638 shares of the utilities provider's stock after purchasing an additional 3,190 shares during the period. Blueshift Asset Management LLC's holdings in Consolidated Edison were worth $845,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Moors & Cabot Inc. increased its holdings in Consolidated Edison by 4.7% in the first quarter. Moors & Cabot Inc. now owns 20,535 shares of the utilities provider's stock valued at $2,271,000 after buying an additional 926 shares during the last quarter. US Bancorp DE grew its position in shares of Consolidated Edison by 6.5% in the 1st quarter. US Bancorp DE now owns 56,817 shares of the utilities provider's stock worth $6,284,000 after acquiring an additional 3,444 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Consolidated Edison by 37.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,678 shares of the utilities provider's stock valued at $739,000 after acquiring an additional 1,815 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in shares of Consolidated Edison by 2.0% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 29,943 shares of the utilities provider's stock valued at $3,311,000 after acquiring an additional 593 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Consolidated Edison by 18.1% during the 1st quarter. Natixis Advisors LLC now owns 181,114 shares of the utilities provider's stock valued at $20,029,000 after acquiring an additional 27,749 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Price Performance

Shares of ED stock traded up $0.91 during midday trading on Friday, reaching $104.41. 2,272,574 shares of the company were exchanged, compared to its average volume of 1,936,933. The company's 50 day moving average price is $101.55 and its two-hundred day moving average price is $102.68. The company has a market cap of $37.62 billion, a P/E ratio of 19.30, a PEG ratio of 3.33 and a beta of 0.24. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $2.15 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison's payout ratio is currently 62.85%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ED shares. Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reduced their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Finally, Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and an average price target of $105.09.

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.