Entropy Technologies LP Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Entropy Technologies LP raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 17.2% during the 3rd quarter, Holdings Channel reports. The fund owned 64,470 shares of the utilities provider’s stock after purchasing an additional 9,468 shares during the period. Consolidated Edison makes up approximately 0.7% of Entropy Technologies LP’s investment portfolio, making the stock its 16th biggest position. Entropy Technologies LP’s holdings in Consolidated Edison were worth $6,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ED. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the 3rd quarter valued at $30,000. Los Angeles Capital Management LLC grew its position in shares of Consolidated Edison by 5.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 272,310 shares of the utilities provider’s stock worth $28,356,000 after buying an additional 13,342 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new position in shares of Consolidated Edison during the 3rd quarter worth $211,000. Baker Avenue Asset Management LP bought a new position in shares of Consolidated Edison during the 3rd quarter worth $321,000. Finally, Mesirow Financial Investment Management Inc. grew its position in shares of Consolidated Edison by 3.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 10,984 shares of the utilities provider’s stock worth $1,144,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley increased their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Guggenheim increased their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.35.

Consolidated Edison Stock Up 0.4 %

Shares of ED opened at $98.48 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The stock’s 50 day moving average is $103.35 and its two-hundred day moving average is $97.96. The firm has a market cap of $34.09 billion, a P/E ratio of 18.55, a PEG ratio of 3.31 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.37%. Consolidated Edison’s payout ratio is presently 62.52%.

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.