Martingale Asset Management L P Grows Holdings in Consolidated Edison, Inc. (NYSE:ED)

Martingale Asset Management L P grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,266 shares of the utilities provider’s stock after buying an additional 49,364 shares during the quarter. Martingale Asset Management L P owned 0.06% of Consolidated Edison worth $17,870,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ED. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison during the fourth quarter valued at about $27,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at about $36,000. OFI Invest Asset Management bought a new stake in Consolidated Edison in the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC purchased a new stake in Consolidated Edison in the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the fourth quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

ED has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. UBS Group upped their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Barclays lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $105.93 on Wednesday. The business has a 50 day moving average of $102.16 and a 200 day moving average of $98.79. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a market cap of $38.15 billion, a PE ratio of 20.21, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 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 during the quarter, compared to analyst estimates of $3.63 billion. As a group, equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.21%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.89%.

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.