4,448 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,448 shares of the utilities provider’s stock, valued at approximately $397,000.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Consolidated Edison during the third quarter worth $776,000. JPMorgan Chase & Co. raised its stake 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 worth $223,373,000 after buying an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after buying an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after buying an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Consolidated Edison by 81.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock worth $885,000 after buying an additional 4,451 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.0 %

NYSE:ED opened at $108.54 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a 50-day moving average of $97.52 and a 200-day moving average of $98.39. The company has a market cap of $37.64 billion, a PE ratio of 20.71, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $109.78.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.13%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Morgan Stanley raised their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday. Mizuho raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.10.

About Consolidated Edison

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.