Siemens Fonds Invest GmbH Buys 11,028 Shares of Consolidated Edison, Inc. (NYSE:ED)

Siemens Fonds Invest GmbH increased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 194.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,702 shares of the utilities provider's stock after acquiring an additional 11,028 shares during the period. Siemens Fonds Invest GmbH's holdings in Consolidated Edison were worth $1,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Consolidated Edison in the fourth quarter worth approximately $399,824,000. ExodusPoint Capital Management LP boosted its holdings in 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 in the last quarter. Invesco Ltd. boosted 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 worth $332,090,000 after acquiring an additional 812,885 shares in the last quarter. Marshall Wace LLP boosted its holdings 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 in the last quarter. Finally, Burkehill Global Management LP bought a new position in Consolidated Edison in the fourth quarter worth approximately $53,538,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of ED traded up $1.27 on Friday, reaching $104.65. 6,398,492 shares of the company's stock traded hands, compared to its average volume of 2,308,764. 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 stock has a market cap of $37.70 billion, a PE ratio of 19.97, a PEG ratio of 3.05 and a beta of 0.29. The stock's 50 day simple moving average is $107.99 and its two-hundred day simple moving average is $100.12. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued 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 analysts' expectations of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same period in the previous year, the business posted $2.15 earnings per share. On average, analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 62.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on ED. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. 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 report on Friday, May 2nd. Barclays increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Finally, KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research note on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $104.27.

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.