ExodusPoint Capital Management LP Has $97.56 Million Position in Consolidated Edison, Inc. (NYSE:ED)

ExodusPoint Capital Management LP grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 412.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,093,402 shares of the utilities provider’s stock after purchasing an additional 879,866 shares during the quarter. Consolidated Edison comprises about 0.7% of ExodusPoint Capital Management LP’s portfolio, making the stock its 15th biggest position. ExodusPoint Capital Management LP’s holdings in Consolidated Edison were worth $97,564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new position in Consolidated Edison during the fourth quarter worth $27,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison during the 4th quarter worth about $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth about $36,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in Consolidated Edison in the 4th quarter valued at about $44,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on ED shares. Morgan Stanley raised their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. 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 upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have given 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.com, the company currently has an average rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Stock Down 0.4 %

Consolidated Edison stock opened at $109.58 on Thursday. 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 stock has a market cap of $38.00 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $111.11. The firm’s 50-day simple moving average is $100.62 and its 200 day simple moving average is $98.64.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) 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 return on equity of 8.62% and a net margin of 11.93%. Research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

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.