Blueshift Asset Management LLC Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Blueshift Asset Management LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,448 shares of the utilities provider’s stock, valued at approximately $397,000.

A number of other institutional investors have also added to or reduced their stakes in ED. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $27,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ED. Scotiabank increased their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Morgan Stanley upped their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday. Barclays upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average target price of $102.10.

Consolidated Edison Stock Performance

NYSE ED opened at $108.54 on Friday. Consolidated Edison, Inc. has a 1 year low of $87.16 and a 1 year high of $109.78. 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 stock has a market capitalization of $37.64 billion, a PE ratio of 20.71, a P/E/G ratio of 3.05 and a beta of 0.30. The company’s 50 day simple moving average is $97.52 and its two-hundred day simple moving average is $98.39.

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

Consolidated Edison Increases Dividend

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

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.