Mn Services Vermogensbeheer B.V. Has $12.01 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Mn Services Vermogensbeheer B.V. increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,600 shares of the utilities provider’s stock after purchasing an additional 2,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $12,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Consolidated Edison during the third quarter worth about $776,000. JPMorgan Chase & Co. lifted its holdings in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after acquiring an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after acquiring an additional 217,981 shares in the last quarter. Finally, National Pension Service lifted its holdings in Consolidated Edison by 7.0% during the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after acquiring an additional 30,838 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group boosted their price target on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Performance

ED opened at $101.45 on Friday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The firm has a market capitalization of $35.17 billion, a PE ratio of 19.36, a PEG ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The business’s 50-day simple moving average is $93.13 and its 200 day simple moving average is $97.98.

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, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is 64.89%.

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.