Achmea Investment Management B.V. Increases Stake in Consolidated Edison Inc (NYSE:ED)

Achmea Investment Management B.V. lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 31.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,653 shares of the utilities provider's stock after purchasing an additional 32,115 shares during the quarter. Achmea Investment Management B.V.'s holdings in Consolidated Edison were worth $14,780,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Consolidated Edison during the 4th quarter worth about $399,824,000. GAMMA Investing LLC grew its position in shares of Consolidated Edison by 15,937.5% during the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock worth $113,031,000 after buying an additional 1,015,700 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in shares of Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after buying an additional 879,866 shares during the period. Invesco Ltd. raised its holdings in Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after acquiring an additional 812,885 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Consolidated Edison by 232.3% in the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after acquiring an additional 736,348 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim boosted their price target 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. Barclays increased their target price on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Morgan Stanley cut their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Citigroup upped their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Finally, UBS Group raised their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $105.27.

Consolidated Edison Stock Performance

Shares of NYSE ED traded up $0.39 during trading hours on Tuesday, reaching $100.74. The stock had a trading volume of 2,743,967 shares, compared to its average volume of 2,375,678. The firm has a 50-day moving average of $104.64 and a 200-day moving average of $100.84. The firm has a market cap of $36.30 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 3.13 and a beta of 0.27. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

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 8.61% and a net margin of 11.98%. 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. Equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.38%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 62.85%.

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.