Consolidated Edison, Inc. (NYSE:ED) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,847,034 shares of the utilities provider’s stock after acquiring an additional 224,258 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.53% of Consolidated Edison worth $164,811,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. TD Private Client Wealth LLC lifted its stake in shares of Consolidated Edison by 4.7% in 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 in the last quarter. D.A. Davidson & CO. raised its stake in Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 124 shares in the last quarter. Townsquare Capital LLC raised its stake in Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after buying an additional 130 shares in the last quarter. Trust Point Inc. raised its stake in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after buying an additional 131 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in Consolidated Edison by 1.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider’s stock valued at $925,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ED shares. Morgan Stanley cut their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Barclays lowered their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.70.

Consolidated Edison Stock Performance

Shares of ED stock opened at $95.77 on Friday. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The firm has a market capitalization of $33.18 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The business has a 50 day simple moving average of $91.98 and a 200 day simple moving average of $98.02. 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 (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced 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 represents a $3.40 dividend on an annualized basis and a yield of 3.55%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 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.