Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,101 shares of the utilities provider’s stock after acquiring an additional 169 shares during the quarter. Vontobel Holding Ltd.’s holdings in Consolidated Edison were worth $455,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its position in shares of 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 acquiring an additional 104 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 124 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after acquiring an additional 130 shares during the last quarter. Trust Point Inc. grew its position in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 131 shares during the last quarter. Finally, Cooper Financial Group grew its position in shares of Consolidated Edison by 5.1% during the fourth quarter. Cooper Financial Group now owns 2,799 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 136 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Barclays lowered their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $100.70.

Consolidated Edison Trading Up 0.5 %

Shares of ED opened at $95.77 on Friday. The business’s 50-day moving average price is $91.98 and its 200 day moving average price is $98.02. The stock has a market capitalization of $33.18 billion, a P/E ratio of 18.04, a P/E/G ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share 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 $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.55%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 62.52%.

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.