Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 154.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,726 shares of the utilities provider's stock after buying an additional 67,785 shares during the quarter. Quantinno Capital Management LP's holdings in Consolidated Edison were worth $9,969,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Mufg Securities Americas Inc. purchased a new position in Consolidated Edison in the fourth quarter valued at $456,000. Man Group plc increased its position in Consolidated Edison by 95.6% in the 4th quarter. Man Group plc now owns 605,933 shares of the utilities provider's stock valued at $54,067,000 after acquiring an additional 296,115 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in Consolidated Edison by 0.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 42,885 shares of the utilities provider's stock worth $3,841,000 after acquiring an additional 266 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Consolidated Edison in the 4th quarter valued at approximately $1,018,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Consolidated Edison by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,332 shares of the utilities provider's stock valued at $3,242,000 after purchasing an additional 1,803 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.4%

Shares of NYSE:ED traded up $0.37 during trading on Tuesday, reaching $105.75. The stock had a trading volume of 571,118 shares, compared to its average volume of 2,274,814. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The business has a fifty day moving average price of $108.51 and a 200-day moving average price of $99.84. The stock has a market cap of $38.10 billion, a P/E ratio of 20.19, a PEG ratio of 3.05 and a beta of 0.29. 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 (NYSE:ED - Get Free Report) last announced 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 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same period in the prior year, the firm earned $2.15 EPS. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.22%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Guggenheim lifted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Mizuho raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Scotiabank raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $104.36.

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.