MQS Management LLC Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

MQS Management LLC increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 88.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,302 shares of the utilities provider’s stock after acquiring an additional 2,953 shares during the quarter. MQS Management LLC’s holdings in Consolidated Edison were worth $564,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ED. Norges Bank acquired a new stake in shares of Consolidated Edison in the 4th quarter worth $243,511,000. ProShare Advisors LLC increased its position in Consolidated Edison by 6.6% during the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after purchasing an additional 123,654 shares during the last quarter. Hsbc Holdings PLC raised its stake in Consolidated Edison by 0.8% during the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after purchasing an additional 11,785 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after purchasing an additional 125,859 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Consolidated Edison by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after buying an additional 91,559 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 1.1 %

NYSE ED opened at $103.41 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market cap of $35.76 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 3.50 and a beta of 0.36. The firm has a 50 day simple moving average of $99.64 and a 200-day simple moving average of $94.46. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter last year, the company posted $0.61 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a dividend of $0.83 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 annualized dividend and a yield of 3.21%. Consolidated Edison’s payout ratio is 63.72%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Barclays lifted their target price on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Mizuho increased their price target on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, UBS Group increased their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $92.65.

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.