Banco Bilbao Vizcaya Argentaria S.A. Has $757,000 Holdings in Consolidated Edison, Inc. (NYSE:ED)

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,485 shares of the utilities provider's stock after selling 3,888 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Consolidated Edison were worth $757,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new position in Consolidated Edison in the fourth quarter worth $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $36,000. Centricity Wealth Management LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Performance

ED stock traded down $2.49 during midday trading on Friday, reaching $110.07. 3,421,756 shares of the company were exchanged, compared to its average volume of 2,224,664. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The firm has a market capitalization of $39.65 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. The business has a 50-day moving average price of $107.80 and a two-hundred day moving average price of $99.76. 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 - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the company earned $2.15 earnings per share. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 64.89%.

Analyst Upgrades and Downgrades

ED has been the topic of several research reports. Wells Fargo & Company upped their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Citigroup increased their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, UBS Group lifted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. One equities research analyst has 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $105.70.

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.