Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Entropy Technologies LP

Entropy Technologies LP trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 67.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,793 shares of the utilities provider’s stock after selling 43,677 shares during the period. Entropy Technologies LP’s holdings in Consolidated Edison were worth $1,855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Perpetual Ltd acquired a new stake in shares of Consolidated Edison in the third quarter valued at $229,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Consolidated Edison by 425.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,075 shares of the utilities provider’s stock valued at $424,000 after acquiring an additional 3,300 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Consolidated Edison in the 3rd quarter valued at about $211,000. HCR Wealth Advisors bought a new position in shares of Consolidated Edison during the 3rd quarter valued at about $228,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Consolidated Edison by 36.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,960 shares of the utilities provider’s stock worth $1,037,000 after purchasing an additional 2,646 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ED. Morgan Stanley reduced their target price 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. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays decreased their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Finally, Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $100.00.

Consolidated Edison Stock Performance

Shares of ED opened at $96.05 on Monday. The company has a market capitalization of $33.27 billion, a PE ratio of 18.09, a PEG ratio of 3.04 and a beta of 0.39. 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 company’s 50 day moving average price is $91.96 and its 200 day moving average price is $98.17. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Research analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.54%. 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.