Czech National Bank Raises Holdings in Consolidated Edison, Inc. (NYSE:ED)

Czech National Bank boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,109 shares of the utilities provider’s stock after acquiring an additional 4,659 shares during the quarter. Czech National Bank’s holdings in Consolidated Edison were worth $6,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ED. RMR Wealth Builders raised its holdings in Consolidated Edison by 8.7% in the 4th quarter. RMR Wealth Builders now owns 3,576 shares of the utilities provider’s stock valued at $319,000 after buying an additional 287 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Consolidated Edison by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 8,707 shares of the utilities provider’s stock valued at $777,000 after acquiring an additional 213 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of Consolidated Edison by 60.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,194 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 450 shares during the period. Douglas Lane & Associates LLC lifted its holdings in shares of Consolidated Edison by 54.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 5,504 shares of the utilities provider’s stock worth $491,000 after acquiring an additional 1,947 shares during the last quarter. Finally, Diversified Trust Co boosted its position in shares of Consolidated Edison by 0.3% during the 4th quarter. Diversified Trust Co now owns 44,317 shares of the utilities provider’s stock worth $3,954,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $89.28 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $93.72 and a 200-day simple moving average of $97.90. The stock has a market cap of $30.93 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group upped their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the stock from $90.00 to $100.00 in a research note on Thursday, December 12th. 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 research report on Friday, November 22nd. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Finally, Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $100.64.

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.