ExodusPoint Capital Management LP Has $97.56 Million Stock Position in Consolidated Edison, Inc. (NYSE:ED)

ExodusPoint Capital Management LP lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 412.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,093,402 shares of the utilities provider’s stock after acquiring an additional 879,866 shares during the period. Consolidated Edison makes up approximately 0.7% of ExodusPoint Capital Management LP’s investment portfolio, making the stock its 15th largest position. ExodusPoint Capital Management LP owned about 0.32% of Consolidated Edison worth $97,564,000 at the end of the most recent quarter.

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

Consolidated Edison Stock Down 0.4 %

NYSE:ED opened at $109.58 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $111.11. The firm’s 50 day simple moving average is $100.62 and its 200 day simple moving average is $98.64. The company has a market cap of $38.00 billion, a PE ratio of 20.91, a P/E/G ratio of 3.05 and a beta of 0.30.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.10%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ED. Morgan Stanley increased their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Finally, Mizuho boosted their target price 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $102.40.

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.