Consolidated Edison, Inc. (NYSE:ED) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 55.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 161,124 shares of the utilities provider's stock after selling 199,304 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Consolidated Edison were worth $14,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Centiva Capital LP raised its holdings in shares of Consolidated Edison by 150.8% in the 4th quarter. Centiva Capital LP now owns 27,929 shares of the utilities provider's stock valued at $2,492,000 after acquiring an additional 16,793 shares in the last quarter. Bosun Asset Management LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at about $213,000. Brevan Howard Capital Management LP bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $476,000. Bridgefront Capital LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $559,000. Finally, Captrust Financial Advisors boosted its stake in shares of Consolidated Edison by 5.2% in the 4th quarter. Captrust Financial Advisors now owns 40,255 shares of the utilities provider's stock valued at $3,592,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.6%

ED traded down $0.59 on Wednesday, hitting $99.14. 1,348,754 shares of the company were exchanged, compared to its average volume of 2,861,089. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a market cap of $35.72 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $108.62 and a two-hundred day moving average price of $99.85.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter last year, the business posted $2.15 earnings per share. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 62.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ED. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Scotiabank lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Barclays raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Finally, Guggenheim upped their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.