84,690 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 84,690 shares of the utilities provider’s stock, valued at approximately $7,557,000.

Other large investors have also added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth about $27,000. Fairway Wealth LLC bought a new position in Consolidated Edison during the fourth quarter worth about $36,000. OFI Invest Asset Management bought a new position in Consolidated Edison during the fourth quarter worth about $35,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison during the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Scotiabank increased 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. Guggenheim increased their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $104.27.

Consolidated Edison Price Performance

ED stock opened at $104.02 on Friday. The firm has a 50 day moving average of $108.33 and a 200-day moving average of $99.98. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market capitalization of $37.48 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last released 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). The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the business posted $2.15 earnings per share. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 62.85%.

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.