Consolidated Edison Inc (NYSE:ED) Shares Bought by KBC Group NV

KBC Group NV boosted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,655 shares of the utilities provider's stock after purchasing an additional 3,560 shares during the period. KBC Group NV's holdings in Consolidated Edison were worth $5,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ED. Alpine Bank Wealth Management purchased a new position in shares of Consolidated Edison in the first quarter worth about $32,000. OFI Invest Asset Management acquired a new position in Consolidated Edison in the 4th quarter worth approximately $35,000. Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison in the 4th quarter worth approximately $35,000. Fairway Wealth LLC purchased a new position in Consolidated Edison during the 4th quarter worth approximately $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Ratings Changes

ED has been the topic of a number of research reports. Citigroup increased their price objective 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. 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. Wells Fargo & Company increased their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. KeyCorp cut Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a report on Wednesday, May 14th. Finally, Morgan Stanley lowered their target price 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. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $105.27.

Consolidated Edison Price Performance

Shares of NYSE:ED traded up $0.16 during midday trading on Friday, reaching $100.08. 1,316,576 shares of the company's stock traded hands, compared to its average volume of 2,387,608. The company has a fifty day simple moving average of $103.70 and a two-hundred day simple moving average of $100.96. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a market cap of $36.06 billion, a P/E ratio of 18.50, a PEG ratio of 3.20 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share 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 company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company posted $2.15 earnings per share. Equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.40%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's 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.