Quadrature Capital Ltd Has $445,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Quadrature Capital Ltd cut its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 79.3% during the 4th quarter, Holdings Channel reports. The firm owned 4,895 shares of the utilities provider’s stock after selling 18,722 shares during the quarter. Quadrature Capital Ltd’s holdings in Consolidated Edison were worth $445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its holdings in Consolidated Edison by 215.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 194 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $29,000. Raleigh Capital Management Inc. purchased a new position in Consolidated Edison during the fourth quarter worth about $29,000. Tidemark LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $29,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $31,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE ED opened at $90.34 on Monday. The company’s 50 day moving average is $93.56 and its 200-day moving average is $91.20. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $98.85. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The firm has a market cap of $31.24 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.29 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. Consolidated Edison’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 EPS. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley boosted their target price on shares of Consolidated Edison from $73.00 to $80.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Barclays boosted their target price on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Finally, Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.58.

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.