Universal Beteiligungs und Servicegesellschaft mbH Sells 7,464 Shares of Consolidated Edison Inc (NYSE:ED)

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,562 shares of the utilities provider's stock after selling 7,464 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of Consolidated Edison worth $55,689,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ED. Norges Bank bought a new stake in Consolidated Edison in the 4th quarter worth approximately $399,824,000. GAMMA Investing LLC grew its holdings in shares of Consolidated Edison by 15,937.5% in the first 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 in the last quarter. ExodusPoint Capital Management LP grew its holdings 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 valued at $97,564,000 after purchasing an additional 879,866 shares in the last quarter. Invesco Ltd. grew its holdings 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 valued at $332,090,000 after purchasing an additional 812,885 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings 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 valued at $93,989,000 after purchasing an additional 736,348 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ED shares. Guggenheim raised their target price 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 upped their price objective 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. Mizuho upgraded Consolidated Edison from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $105.00 to $107.00 in a research report on Monday, June 30th. Morgan Stanley decreased their price objective on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Barclays upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and a consensus target price of $105.09.

Consolidated Edison Trading Up 0.2%

Shares of ED traded up $0.20 during trading hours on Friday, reaching $102.25. 1,375,668 shares of the company traded hands, compared to its average volume of 2,070,815. The firm has a market cap of $36.84 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 3.26 and a beta of 0.26. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The stock's fifty day moving average price is $101.74 and its 200 day moving average price is $102.28.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to analysts' expectations 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 previous year, the business earned $2.15 earnings per share. Sell-side analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.33%. Consolidated Edison's payout ratio is currently 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.