Raiffeisen Bank International AG Purchases Shares of 15,904 Consolidated Edison, Inc. (NYSE:ED)

Raiffeisen Bank International AG bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,904 shares of the utilities provider's stock, valued at approximately $1,418,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ED. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $27,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $44,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of NYSE ED traded up $0.29 during trading hours on Tuesday, hitting $105.67. 2,177,642 shares of the stock were exchanged, compared to its average volume of 2,285,174. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company's 50 day moving average is $108.51 and its 200 day moving average is $99.84. The firm has a market capitalization of $38.07 billion, a P/E ratio of 20.17, a P/E/G ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same period in the prior year, the company posted $2.15 earnings per share. On average, research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 62.85%.

Analyst Upgrades and Downgrades

ED has been the topic of several research reports. UBS Group upped their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Citigroup upped their target price on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Guggenheim boosted their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley set a $94.00 price objective on shares of Consolidated Edison and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned 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 price target of $104.36.

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.