22,886 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Duality Advisers LP

Duality Advisers LP acquired a new position in Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,886 shares of the utilities provider’s stock, valued at approximately $2,082,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider’s stock valued at $530,373,000 after purchasing an additional 27,850 shares during the last quarter. Northern Trust Corp boosted its position in shares of Consolidated Edison by 8.2% in the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock valued at $383,519,000 after acquiring an additional 340,239 shares during the period. Morgan Stanley boosted its position in shares of Consolidated Edison by 1.8% in the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider’s stock valued at $361,069,000 after acquiring an additional 72,915 shares during the period. Invesco Ltd. boosted its position in shares of Consolidated Edison by 4.5% in the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock valued at $254,616,000 after acquiring an additional 129,519 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Consolidated Edison by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,984,449 shares of the utilities provider’s stock valued at $169,716,000 after acquiring an additional 26,910 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ED. Royal Bank of Canada reduced their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Scotiabank reduced their price objective on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. LADENBURG THALM/SH SH began coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Finally, UBS Group reduced their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $87.54.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $92.73 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. The stock has a fifty day moving average price of $89.03 and a two-hundred day moving average price of $89.76. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $100.92. The firm has a market capitalization of $32.04 billion, a P/E ratio of 12.92, a P/E/G ratio of 8.65 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 annualized dividend and a yield of 3.58%. Consolidated Edison’s dividend payout ratio is currently 46.24%.

About Consolidated Edison

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.