Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Reduces Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 19.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,147 shares of the utilities provider’s stock after selling 2,651 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Consolidated Edison were worth $995,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in Consolidated Edison by 1,766.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after acquiring an additional 935,962 shares during the last quarter. Burkehill Global Management LP acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $53,538,000. FMR LLC grew its position in shares of Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares during the period. National Bank of Canada FI increased its stake in Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock valued at $64,634,000 after purchasing an additional 482,953 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Consolidated Edison during the fourth quarter worth about $42,916,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ED. Mizuho lifted 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. UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays boosted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Finally, Scotiabank increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given 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 company presently has an average rating of “Hold” and a consensus target price of $101.50.

Consolidated Edison Stock Down 1.0 %

Shares of NYSE ED opened at $102.72 on Thursday. The stock has a fifty day moving average price of $95.30 and a 200 day moving average price of $98.11. 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, Inc. has a 12-month low of $87.16 and a 12-month high of $107.97. The company has a market cap of $35.62 billion, a P/E ratio of 19.60, a P/E/G ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion during 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%. Research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

Consolidated Edison 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.