Versor Investments LP Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Versor Investments LP bought a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,670 shares of the utilities provider’s stock, valued at approximately $1,131,000.

A number of other institutional investors have also recently added to or reduced their stakes in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at $27,000. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at $30,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at $39,000. Finally, CGC Financial Services LLC lifted its position in shares of Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 213 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

ED opened at $100.05 on Friday. The firm has a market cap of $34.69 billion, a P/E ratio of 19.09, a PEG ratio of 3.05 and a beta of 0.39. The firm has a 50-day moving average of $92.90 and a 200 day moving average of $97.98. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. On average, research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.40%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Wall Street Analysts Forecast Growth

ED has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank boosted 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 report on Monday. UBS Group upped their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.50.

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.