Worldquant Millennium Advisors LLC Raises Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Worldquant Millennium Advisors LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 29.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,034 shares of the utilities provider’s stock after purchasing an additional 72,068 shares during the quarter. Worldquant Millennium Advisors LLC owned about 0.09% of Consolidated Edison worth $28,378,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Woodline Partners LP purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $1,856,000. Zimmer Partners LP purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $23,367,000. Victrix Investment Advisors purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $267,000. Vident Advisory LLC raised its stake in shares of Consolidated Edison by 236.4% during the fourth quarter. Vident Advisory LLC now owns 46,233 shares of the utilities provider’s stock worth $4,126,000 after purchasing an additional 32,488 shares during the last quarter. Finally, Twinbeech Capital LP purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $3,917,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.3%

Consolidated Edison stock opened at $105.67 on Wednesday. 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 firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock’s fifty day moving average is $108.53 and its two-hundred day moving average is $99.88.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.22%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 62.85%.

Analysts Set New Price Targets

ED has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Guggenheim upped their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Morgan Stanley set a $94.00 price objective on Consolidated Edison and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. UBS Group upped their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Scotiabank upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.36.

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.