Commerzbank Aktiengesellschaft FI Has $2.71 Million Position in Consolidated Edison Inc (NYSE:ED)

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,458 shares of the utilities provider's stock after buying an additional 3,034 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Consolidated Edison were worth $2,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $399,824,000. GAMMA Investing LLC raised its stake in Consolidated Edison by 15,937.5% during the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after purchasing an additional 1,015,700 shares during the period. ExodusPoint Capital Management LP increased its stake in shares of Consolidated Edison by 412.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after acquiring an additional 879,866 shares during the last quarter. Invesco Ltd. increased its stake in shares of Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after acquiring an additional 812,885 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of 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. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ED. Mizuho raised shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $105.00 to $107.00 in a research note on Monday, June 30th. UBS Group upped their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. KeyCorp restated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday. Finally, Guggenheim upped their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of "Hold" and an average price target of $105.09.

Consolidated Edison Stock Performance

Shares of NYSE ED traded up $0.42 during mid-day trading on Friday, hitting $101.02. The company had a trading volume of 1,813,453 shares, compared to its average volume of 2,408,250. The firm has a market cap of $36.40 billion, a P/E ratio of 18.67, a PEG ratio of 3.21 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The business's 50-day simple moving average is $101.81 and its 200-day simple moving average is $101.64.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The business 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 8.61% and a net margin of 11.98%. During the same quarter in the prior year, the business earned $2.15 EPS. As a group, analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio is 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.