Headlands Technologies LLC Acquires 3,588 Shares of Consolidated Edison, Inc. (NYSE:ED)

Headlands Technologies LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 180.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,577 shares of the utilities provider’s stock after acquiring an additional 3,588 shares during the quarter. Headlands Technologies LLC’s holdings in Consolidated Edison were worth $499,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Beacon Capital Management LLC increased its position in shares of Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the period. Tidemark LLC purchased a new position in Consolidated Edison during the 4th quarter worth $29,000. Raleigh Capital Management Inc. bought a new stake in Consolidated Edison during the 4th quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $33,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Consolidated Edison during the 1st quarter worth $33,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.4 %

Consolidated Edison stock opened at $103.38 on Friday. 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 stock has a market cap of $35.75 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36. The stock has a 50-day moving average of $98.42 and a two-hundred day moving average of $93.92. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $105.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period last year, the firm posted $0.61 EPS. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Mizuho upped their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Bank of America lifted their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company upped their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, UBS Group increased their target price on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.65.

Consolidated Edison Company 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.