Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,847,034 shares of the utilities provider’s stock after purchasing an additional 224,258 shares during the period. Allianz Asset Management GmbH’s holdings in Consolidated Edison were worth $164,811,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ED. Raymond James & Associates lifted its position in shares of Consolidated Edison by 20.1% during the 3rd quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider’s stock valued at $19,800,000 after acquiring an additional 31,761 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Consolidated Edison by 22.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,535 shares of the utilities provider’s stock valued at $1,305,000 after acquiring an additional 2,317 shares during the last quarter. Eastern Bank acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $435,000. Greenleaf Trust lifted its position in shares of Consolidated Edison by 17.5% during the 3rd quarter. Greenleaf Trust now owns 8,147 shares of the utilities provider’s stock valued at $848,000 after acquiring an additional 1,215 shares during the last quarter. Finally, Lake Street Private Wealth LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $215,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $95.77 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The business has a fifty day simple moving average of $91.98 and a 200 day simple moving average of $98.02. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced 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. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.35 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.55%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ED shares. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Barclays reduced their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Finally, Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $100.70.

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.