denkapparat Operations GmbH Buys New Position in Consolidated Edison, Inc. (NYSE:ED)

denkapparat Operations GmbH bought a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 9,574 shares of the utilities provider’s stock, valued at approximately $854,000. Consolidated Edison makes up about 1.3% of denkapparat Operations GmbH’s portfolio, making the stock its 11th largest position.

Several other institutional investors and hedge funds have also modified their holdings of ED. Norges Bank bought a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $399,824,000. Point72 Asset Management L.P. lifted its holdings in Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after purchasing an additional 935,962 shares in the last quarter. Burkehill Global Management LP bought a new position in shares of Consolidated Edison in the fourth quarter worth approximately $53,538,000. FMR LLC increased its stake in shares of Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after purchasing an additional 572,530 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock valued at $3,788,319,000 after purchasing an additional 488,752 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ED shares. Mizuho upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. UBS Group upped their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley upped their price target on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Finally, Barclays lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.40.

Consolidated Edison Trading Up 0.4 %

ED stock opened at $107.89 on Friday. The firm has a fifty day moving average price of $99.26 and a 200 day moving average price of $98.53. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $109.36. The firm has a market cap of $37.41 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. Consolidated Edison’s dividend payout ratio is 64.89%.

About Consolidated Edison

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.