Commerzbank Aktiengesellschaft FI Has $18.18 Million Position in Consolidated Edison, Inc. (ED)

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Commerzbank Aktiengesellschaft FI lowered its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 237,726 shares of the utilities provider’s stock after selling 3,382 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Consolidated Edison were worth $18,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ED. Financial Gravity Companies Inc. acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $28,000. Orrstown Financial Services Inc. acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $31,000. Heritage Wealth Advisors acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $33,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Consolidated Edison by 7,452.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,577,390 shares of the utilities provider’s stock valued at $34,000 after buying an additional 2,543,263 shares during the period. Finally, Essex Savings Bank acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 58.76% of the company’s stock.

Shares of ED opened at $78.57 on Wednesday. Consolidated Edison, Inc. has a 12 month low of $71.12 and a 12 month high of $84.32. The firm has a market cap of $24.72 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 6.09 and a beta of 0.12. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.97.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 13th will be given a dividend of $0.74 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, February 12th. Consolidated Edison’s dividend payout ratio is 69.93%.

ED has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Consolidated Edison from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Tuesday. Citigroup increased their target price on shares of Consolidated Edison from $79.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, October 16th. Evercore ISI cut shares of Consolidated Edison to an “underperform” rating in a report on Tuesday. Barclays increased their target price on shares of Consolidated Edison from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Wednesday, December 5th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Consolidated Edison has a consensus rating of “Hold” and a consensus target price of $76.70.

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About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.

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Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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