Two Sigma Advisers LP Buys New Position in Consolidated Edison, Inc. (NYSE:ED)

Two Sigma Advisers LP purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 84,690 shares of the utilities provider’s stock, valued at approximately $7,557,000.

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

Consolidated Edison Price Performance

ED opened at $104.02 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $37.48 billion, a P/E ratio of 19.85, a P/E/G ratio of 3.05 and a beta of 0.29. The company’s 50-day simple moving average is $108.33 and its two-hundred day simple moving average is $99.98. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the company posted $2.15 EPS. As a group, analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 62.85%.

Analyst Ratings Changes

ED has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday. Scotiabank upped 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. Citigroup upped their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Guggenheim upped their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Three 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $104.27.

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.