Consolidated Edison, Inc. (NYSE:ED) Stake Lessened by Unigestion Holding SA

Unigestion Holding SA lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 17.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 265,342 shares of the utilities provider’s stock after selling 54,846 shares during the quarter. Consolidated Edison comprises about 1.4% of Unigestion Holding SA’s investment portfolio, making the stock its 29th biggest holding. Unigestion Holding SA owned 0.08% of Consolidated Edison worth $23,671,000 at the end of the most recent reporting period.

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

Consolidated Edison Trading Down 2.8 %

Shares of ED stock opened at $109.53 on Friday. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a market cap of $37.98 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $101.43 and its two-hundred day moving average is $98.73.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. Consolidated Edison’s payout ratio is presently 64.89%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ED shares. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Scotiabank boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Barclays boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.40.

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.