DekaBank Deutsche Girozentrale Increases Stock Holdings in Consolidated Edison Inc (NYSE:ED)

DekaBank Deutsche Girozentrale grew its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,619 shares of the utilities provider's stock after purchasing an additional 5,359 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Consolidated Edison worth $22,064,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Personal CFO Solutions LLC increased its holdings in shares of Consolidated Edison by 5.4% during the 1st quarter. Personal CFO Solutions LLC now owns 2,972 shares of the utilities provider's stock worth $329,000 after acquiring an additional 151 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Consolidated Edison by 11.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 3,023 shares of the utilities provider's stock worth $334,000 after acquiring an additional 302 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Consolidated Edison by 8.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 11,053 shares of the utilities provider's stock worth $1,222,000 after acquiring an additional 829 shares during the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of Consolidated Edison by 13.6% during the 1st quarter. Alpha Cubed Investments LLC now owns 3,075 shares of the utilities provider's stock worth $340,000 after acquiring an additional 367 shares during the last quarter. Finally, Capital Management Associates Inc acquired a new position in Consolidated Edison in the 1st quarter valued at $272,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Trading Down 0.5%

ED stock traded down $0.48 during mid-day trading on Friday, reaching $100.59. The company's stock had a trading volume of 1,853,686 shares, compared to its average volume of 2,411,949. The company has a market cap of $36.24 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 3.21 and a beta of 0.26. The business's 50 day moving average price is $102.54 and its 200 day moving average price is $101.49. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results 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 business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. On average, equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.38%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ED shares. 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 report on Friday, May 2nd. Barclays upped their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 target price on the stock. in a report on Wednesday, May 14th. Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, April 9th. Finally, UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three 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 $105.27.

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.