Consolidated Edison, Inc. (NYSE:ED) Stock Position Increased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its position in Consolidated Edison, Inc. (NYSE:ED) by 198.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,424 shares of the utilities provider’s stock after purchasing an additional 14,234 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Consolidated Edison were worth $1,911,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ED. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter worth approximately $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the third quarter worth $30,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, CGC Financial Services LLC raised its stake in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $104.09 on Tuesday. The stock’s fifty day simple moving average is $93.42 and its 200 day simple moving average is $97.97. The stock has a market capitalization of $36.09 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.05 and a beta of 0.39. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 52-week low of $86.56 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

Analyst Ratings Changes

ED has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.50.

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.