Czech National Bank Buys 4,467 Shares of Consolidated Edison, Inc. (NYSE:ED)

Czech National Bank grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 79,576 shares of the utilities provider's stock after acquiring an additional 4,467 shares during the period. Czech National Bank's holdings in Consolidated Edison were worth $8,800,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ED. Fairway Wealth LLC purchased a new position in Consolidated Edison during the 4th quarter worth approximately $36,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter worth $35,000. OFI Invest Asset Management purchased a new position in shares of Consolidated Edison during the fourth quarter valued at $35,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the fourth quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison during the fourth quarter valued at $44,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 0.1%

Shares of NYSE ED traded down $0.10 during mid-day trading on Thursday, reaching $102.11. 2,451,918 shares of the company traded hands, compared to its average volume of 2,282,093. The company's fifty day moving average is $107.67 and its two-hundred day moving average is $100.32. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a market cap of $36.79 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

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 the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $2.15 EPS. On average, analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current 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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is 62.85%.

Analysts Set New Price Targets

A number of brokerages have commented on ED. Morgan Stanley decreased their price objective on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research report on Thursday, May 22nd. Guggenheim boosted their target price on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Citigroup lifted their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $104.27.

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.