Stevens Capital Management LP Purchases 10,753 Shares of Consolidated Edison, Inc. (NYSE:ED)

Stevens Capital Management LP raised its position in Consolidated Edison, Inc. (NYSE:ED) by 482.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,982 shares of the utilities provider’s stock after purchasing an additional 10,753 shares during the period. Stevens Capital Management LP’s holdings in Consolidated Edison were worth $1,158,000 at the end of the most recent reporting period.

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

Consolidated Edison Trading Down 0.6 %

Shares of ED opened at $107.85 on Friday. The firm’s 50-day moving average price is $97.91 and its 200-day moving average price is $98.40. The firm has a market capitalization of $37.40 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.05 and a beta of 0.30. 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 1-year low of $87.16 and a 1-year high of $109.36.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.15%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday. Scotiabank lifted 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. Mizuho lifted 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. Morgan Stanley boosted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two investment 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.40.

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.