V Square Quantitative Management LLC Purchases 2,404 Shares of Consolidated Edison, Inc. (NYSE:ED)

V Square Quantitative Management LLC raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,241 shares of the utilities provider’s stock after acquiring an additional 2,404 shares during the quarter. V Square Quantitative Management LLC’s holdings in Consolidated Edison were worth $1,628,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Consolidated Edison during the 3rd quarter valued at approximately $776,000. Pathway Financial Advisers LLC boosted its position in shares of Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after purchasing an additional 24,211 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. boosted its position in shares of Consolidated Edison by 2.8% in the 4th quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in shares of Consolidated Edison by 102.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after purchasing an additional 217,981 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ED shares. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays decreased their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Trading Up 1.2 %

NYSE:ED opened at $95.75 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market capitalization of $33.17 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The business has a fifty day moving average price of $91.85 and a 200-day moving average price of $98.16.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.55%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is currently 64.03%.

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.