Centiva Capital LP Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

Centiva Capital LP boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 150.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,929 shares of the utilities provider’s stock after purchasing an additional 16,793 shares during the period. Centiva Capital LP’s holdings in Consolidated Edison were worth $2,492,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at $27,000. Fairway Wealth LLC bought a new stake in Consolidated Edison during the fourth quarter valued at about $36,000. OFI Invest Asset Management purchased a new position in shares of Consolidated Edison in the fourth quarter valued at about $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison during the fourth quarter worth about $44,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. 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. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Scotiabank raised 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 note on Monday, February 24th. Barclays lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.80.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $110.49 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company’s 50-day moving average price is $108.20 and its 200-day moving average price is $99.85. The company has a market cap of $39.81 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $2.15 earnings per share. On average, equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed 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 3.08%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s payout ratio is 62.85%.

Consolidated Edison Company 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.