22,886 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Duality Advisers LP

Duality Advisers LP bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 22,886 shares of the utilities provider’s stock, valued at approximately $2,082,000.

Other large investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. grew its holdings in Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 194 shares in the last quarter. Level Financial Advisors Inc. acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $29,000. Bruce G. Allen Investments LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $31,000. Finally, CVA Family Office LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $32,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 1.0 %

ED stock opened at $92.73 on Tuesday. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The stock has a market capitalization of $32.04 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 8.65 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. The company has a fifty day moving average of $89.03 and a 200-day moving average of $89.76.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business earned $0.81 EPS. The business’s revenue was down 14.6% on a year-over-year basis. As a group, analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ED shares. Royal Bank of Canada lowered their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Barclays upped their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH started coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Scotiabank lowered their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday. Finally, UBS Group reduced their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.54.

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.