Achmea Investment Management B.V. Sells 10,787 Shares of Consolidated Edison, Inc. (NYSE:ED)

Achmea Investment Management B.V. trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 101,538 shares of the utilities provider’s stock after selling 10,787 shares during the quarter. Achmea Investment Management B.V.’s holdings in Consolidated Edison were worth $9,061,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. Geode Capital Management LLC raised its position in Consolidated Edison by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after buying an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Consolidated Edison by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after acquiring an additional 77,323 shares in the last quarter. Amundi boosted its position in Consolidated Edison by 12.2% during the 4th quarter. Amundi now owns 2,221,729 shares of the utilities provider’s stock worth $197,795,000 after acquiring an additional 242,243 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.9 %

Shares of ED opened at $104.61 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52-week low of $87.16 and a 52-week high of $107.97. The firm has a market cap of $36.28 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.05 and a beta of 0.30. The business’s fifty day moving average is $95.62 and its 200-day moving average is $98.15.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The firm 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%. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.25%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. UBS Group increased their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Morgan Stanley reduced their price target 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, Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.50.

About Consolidated Edison

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.