Xponance Inc. Purchases 2,162 Shares of Consolidated Edison, Inc. (NYSE:ED)

Xponance Inc. grew its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,823 shares of the utilities provider’s stock after buying an additional 2,162 shares during the quarter. Xponance Inc.’s holdings in Consolidated Edison were worth $4,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its position in Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after buying an additional 104 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 104 shares during the last quarter. D.A. Davidson & CO. lifted its position in Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after purchasing an additional 124 shares during the period. Townsquare Capital LLC lifted its position in Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares during the period. Finally, Trust Point Inc. boosted its holdings in Consolidated Edison by 4.9% in the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.0 %

Shares of ED stock opened at $108.54 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $109.78. The company’s fifty day moving average price is $97.52 and its 200-day moving average price is $98.39. The company has a market capitalization of $37.64 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.13%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analyst Ratings Changes

ED has been the topic of several research analyst reports. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Morgan Stanley increased their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Two research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $102.10.

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.