2,760 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Allianz SE

Allianz SE acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,760 shares of the utilities provider’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. AlphaMark Advisors LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $27,000. OFI Invest Asset Management purchased a new stake in Consolidated Edison during the 4th quarter valued at about $35,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $36,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison in the 4th quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group increased their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Morgan Stanley boosted their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Scotiabank raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.40.

Consolidated Edison Stock Performance

Shares of ED stock opened at $110.69 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a market cap of $38.38 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.05 and a beta of 0.30. The firm’s 50 day moving average price is $99.90 and its 200-day moving average price is $98.53. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $111.14.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 64.89%.

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.