48,687 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,687 shares of the utilities provider’s stock, valued at approximately $4,344,000.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Consolidated Edison in the third quarter valued at $776,000. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. increased its holdings in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after purchasing an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after purchasing an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Consolidated Edison by 81.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after purchasing an additional 4,451 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ED. UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Scotiabank boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Finally, Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average price target of $102.10.

Consolidated Edison Trading Up 1.0 %

ED opened at $108.54 on Friday. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $109.78. The company has a 50-day simple moving average of $97.52 and a 200 day simple moving average of $98.39. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $37.64 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted 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. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

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.