Stevens Capital Management LP Purchases 10,753 Shares of Consolidated Edison, Inc. (NYSE:ED)

Stevens Capital Management LP lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 482.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,982 shares of the utilities provider’s stock after buying an additional 10,753 shares during the period. Stevens Capital Management LP’s holdings in Consolidated Edison were worth $1,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $27,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $36,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.6 %

Shares of ED stock opened at $107.85 on Friday. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $109.36. The stock has a market cap of $37.40 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $97.91 and a two-hundred day simple moving average of $98.40.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.15%. Consolidated Edison’s dividend payout ratio is 64.89%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ED shares. Mizuho boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group boosted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Finally, Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $102.40.

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.