Czech National Bank Increases Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Czech National Bank boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,109 shares of the utilities provider’s stock after purchasing an additional 4,659 shares during the quarter. Czech National Bank’s holdings in Consolidated Edison were worth $6,702,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Consolidated Edison in the third quarter valued at about $776,000. Pathway Financial Advisers LLC increased its position in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after acquiring an additional 24,211 shares during the period. JPMorgan Chase & Co. raised its stake in Consolidated Edison by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after acquiring an additional 82,985 shares during the last quarter. National Pension Service lifted its position in Consolidated Edison by 7.0% during the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after acquiring an additional 30,838 shares during the period. Finally, Brophy Wealth Management LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter valued at approximately $521,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED opened at $89.28 on Wednesday. The stock has a market cap of $30.93 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.11 and a beta of 0.38. 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 stock’s 50 day simple moving average is $93.72 and its 200 day simple moving average is $97.90. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. As a group, equities analysts anticipate that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 62.52%.

Wall Street Analysts Forecast Growth

ED has been the subject of several recent research reports. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $100.64.

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.