Worldquant Millennium Advisors LLC Raises Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Worldquant Millennium Advisors LLC grew its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 29.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,034 shares of the utilities provider's stock after purchasing an additional 72,068 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.09% of Consolidated Edison worth $28,378,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its position in shares of Consolidated Edison by 30.1% in the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider's stock worth $128,279,000 after purchasing an additional 285,115 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Merit Financial Group LLC grew its stake in Consolidated Edison by 54.0% in the 4th quarter. Merit Financial Group LLC now owns 9,133 shares of the utilities provider's stock worth $815,000 after buying an additional 3,204 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Consolidated Edison by 11.8% in the 4th quarter. HB Wealth Management LLC now owns 9,325 shares of the utilities provider's stock worth $832,000 after buying an additional 981 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at $250,000. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ED. Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. 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 report on Friday, May 2nd. Citigroup increased their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Guggenheim upped their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $104.27.

Consolidated Edison Trading Up 0.6%

ED traded up $0.60 on Monday, hitting $104.02. 2,116,035 shares of the company were exchanged, compared to its average volume of 2,287,342. 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 fifty day simple moving average of $108.33 and a two-hundred day simple moving average of $100.00. The stock has a market capitalization of $37.48 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same period last year, the company posted $2.15 EPS. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

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.