Entropy Technologies LP Has $1.86 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Entropy Technologies LP reduced its holdings in Consolidated Edison, Inc. (NYSE:ED) by 67.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,793 shares of the utilities provider’s stock after selling 43,677 shares during the quarter. Entropy Technologies LP’s holdings in Consolidated Edison were worth $1,855,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Consolidated Edison in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter worth about $30,000. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at $27,000. FSA Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at $55,000. Finally, CGC Financial Services LLC raised its stake in shares of Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 213 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.7 %

Consolidated Edison stock opened at $96.05 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The stock has a 50-day simple moving average of $91.96 and a 200 day simple moving average of $98.17. The stock has a market capitalization of $33.27 billion, a P/E ratio of 18.09, a PEG ratio of 3.04 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.54%. Consolidated Edison’s payout ratio is presently 64.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ED shares. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho boosted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.00.

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.