Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,604 shares of the utilities provider’s stock after selling 102,255 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Consolidated Edison were worth $27,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in Consolidated Edison during the fourth quarter worth about $241,000. Rockland Trust Co. increased its holdings in shares of Consolidated Edison by 0.5% during the 4th quarter. Rockland Trust Co. now owns 104,226 shares of the utilities provider’s stock worth $9,300,000 after buying an additional 491 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Consolidated Edison by 19.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,327 shares of the utilities provider’s stock valued at $386,000 after buying an additional 711 shares during the period. Oak Thistle LLC acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $511,000. Finally, Accurate Wealth Management LLC purchased a new position in Consolidated Edison in the fourth quarter worth approximately $2,681,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. UBS Group upped their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Barclays dropped their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.64.

Consolidated Edison Stock Up 2.1 %

Shares of NYSE ED opened at $92.17 on Friday. The stock has a market cap of $31.93 billion, a P/E ratio of 17.36, a PEG ratio of 2.81 and a beta of 0.38. The business’s fifty day simple moving average is $93.54 and its 200-day simple moving average is $97.85. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month 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 posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.69%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 62.52%.

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.