ASR Vermogensbeheer N.V. Takes $9.66 Million Position in Consolidated Edison Inc (NYSE:ED)

Key Points

• ASR Vermogensbeheer N.V. acquired approximately $9.66 million worth of shares in Consolidated Edison Inc, purchasing 87,348 shares during the first quarter.
• The company has recently announced a quarterly dividend of $0.85 per share, representing a 3.3% yield, with 66.29% of the stock owned by institutional investors.
• Analysts have varied ratings on the stock, with price targets ranging from $96.00 to $120.00, reflecting a mix of buying, holding, and selling ratings.

ASR Vermogensbeheer N.V. purchased a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 87,348 shares of the utilities provider's stock, valued at approximately $9,660,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new position in shares of Consolidated Edison during the first quarter worth about $32,000. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC grew its stake in Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after buying an additional 120 shares during the last quarter. Elite Financial Inc. purchased a new position in Consolidated Edison during the 1st quarter worth approximately $38,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $35,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.1%

NYSE ED opened at $104.12 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $37.51 billion, a P/E ratio of 19.25, a P/E/G ratio of 3.32 and a beta of 0.24. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a 50-day moving average price of $101.62 and a 200 day moving average price of $102.93.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be given a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison's dividend payout ratio is presently 62.85%.

Analyst Ratings Changes

Several research firms have recently weighed in on ED. Mizuho raised Consolidated Edison from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $105.00 to $107.00 in a report on Monday, June 30th. Guggenheim increased their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company boosted their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $104.70.

Consolidated Edison Company 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.

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