Zurcher Kantonalbank Zurich Cantonalbank Has $37.13 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 416,106 shares of the utilities provider’s stock after buying an additional 36,931 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Consolidated Edison were worth $37,129,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ED. TD Private Client Wealth LLC grew its position in Consolidated Edison by 4.7% during the third 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 in the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 124 shares in the last quarter. Townsquare Capital LLC boosted its holdings in shares of Consolidated Edison by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 130 shares in the last quarter. Finally, Trust Point Inc. boosted its holdings in shares of Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group upped their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Two 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.50.

Consolidated Edison Trading Up 2.8 %

ED opened at $106.59 on Tuesday. The business has a 50 day simple moving average of $94.74 and a two-hundred day simple moving average of $98.05. The firm has a market capitalization of $36.96 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 3.05 and a beta of 0.30. 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 $107.97.

Consolidated Edison (NYSE:ED) last released 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 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%. Analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.19%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.