Consolidated Edison Inc $ED Stake Lifted by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 47.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 790,832 shares of the utilities provider’s stock after buying an additional 255,706 shares during the quarter. Quantinno Capital Management LP’s holdings in Consolidated Edison were worth $89,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in shares of Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares during the period. Norges Bank acquired a new position in Consolidated Edison during the fourth quarter worth about $489,806,000. Deutsche Bank AG raised its position in Consolidated Edison by 101.4% in the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock worth $359,276,000 after acquiring an additional 1,820,877 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Consolidated Edison in the 4th quarter valued at about $113,977,000. Finally, AQR Capital Management LLC lifted its holdings in Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after acquiring an additional 974,419 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on ED. KeyCorp dropped their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a report on Thursday, July 23rd. Evercore set a $116.00 price objective on Consolidated Edison in a research note on Monday, May 11th. Mizuho set a $114.00 target price on Consolidated Edison in a research report on Monday. Argus set a $112.00 price target on Consolidated Edison in a research report on Tuesday, June 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $108.47.

Consolidated Edison Stock Down 1.3%

Shares of Consolidated Edison stock opened at $111.50 on Tuesday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a market cap of $41.09 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.93 and a beta of 0.27. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a 50-day moving average price of $109.14 and a 200 day moving average price of $109.17.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.