Mn Services Vermogensbeheer B.V. Has $12.01 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 134,600 shares of the utilities provider’s stock after acquiring an additional 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $12,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Consolidated Edison in the third quarter valued at approximately $776,000. JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after purchasing an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. grew its position in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock valued at $12,772,000 after purchasing an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC grew its position in shares of Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock valued at $38,394,000 after purchasing an additional 217,981 shares during the last quarter. Finally, National Pension Service grew its position in shares of Consolidated Edison by 7.0% in the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock valued at $48,792,000 after purchasing an additional 30,838 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ED. Morgan Stanley decreased their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays boosted their price target 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 analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Up 1.5 %

NYSE ED opened at $101.45 on Friday. The business has a fifty day moving average price of $93.13 and a two-hundred day moving average price of $97.98. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock has a market capitalization of $35.17 billion, a PE ratio of 19.36, a PEG ratio of 3.05 and a beta of 0.39.

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

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.35%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.