Qsemble Capital Management LP Purchases Shares of 11,854 Consolidated Edison, Inc. (NYSE:ED)

Qsemble Capital Management LP purchased a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the second quarter, HoldingsChannel reports. The institutional investor purchased 11,854 shares of the utilities provider’s stock, valued at approximately $1,060,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC lifted its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $29,000. Tidemark LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $29,000. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter valued at $33,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $33,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $103.38 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The business has a fifty day simple moving average of $98.42 and a 200 day simple moving average of $93.92. The firm has a market cap of $35.75 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 3.49 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $0.61 earnings per share. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. Consolidated Edison’s dividend payout ratio is 63.72%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ED shares. Guggenheim increased their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Bank of America increased their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley increased their price objective on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Barclays increased their target price on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Finally, Mizuho increased their target price on Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and an average target price of $92.65.

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.