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

Siemens Fonds Invest GmbH boosted its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 194.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,702 shares of the utilities provider's stock after buying an additional 11,028 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Consolidated Edison were worth $1,490,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Consolidated Edison in the 4th quarter valued at about $399,824,000. ExodusPoint Capital Management LP grew its holdings in Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock worth $97,564,000 after purchasing an additional 879,866 shares during the period. Invesco Ltd. increased its position in Consolidated Edison by 27.9% during the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after buying an additional 812,885 shares during the last quarter. Marshall Wace LLP raised its stake 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 valued at $93,989,000 after buying an additional 736,348 shares during the period. Finally, Burkehill Global Management LP acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $53,538,000. Institutional investors own 66.29% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ED. Morgan Stanley dropped their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a research note on Thursday. Guggenheim boosted their price objective on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Barclays lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Finally, Scotiabank increased their price objective 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $104.27.

Consolidated Edison Price Performance

ED traded down $1.44 on Thursday, hitting $103.79. 666,526 shares of the stock were exchanged, compared to its average volume of 2,848,925. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market capitalization of $37.39 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 3.05 and a beta of 0.29. The business has a 50-day moving average of $108.50 and a two-hundred day moving average of $99.92. 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 announced 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). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm 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 firm earned $2.15 earnings per share. Sell-side analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

Consolidated Edison 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.