Mn Services Vermogensbeheer B.V. Has $14.87 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 163,500 shares of the utilities provider’s stock after selling 6,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $14,874,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ED. Financial Gravity Asset Management Inc. grew its stake in shares of Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 194 shares in the last quarter. Level Financial Advisors Inc. bought a new stake in shares of Consolidated Edison in the 3rd quarter worth $26,000. Retirement Group LLC grew its stake in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 116 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in shares of Consolidated Edison in the 2nd quarter worth $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $29,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.1 %

Consolidated Edison stock opened at $88.63 on Monday. The firm has a 50 day moving average of $88.91 and a 200 day moving average of $89.49. The firm has a market capitalization of $30.62 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 8.36 and a beta of 0.35. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.92. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, research analysts predict that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.83 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is 46.24%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, February 20th. Royal Bank of Canada reduced their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Barclays increased their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Finally, UBS Group cut their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.96.

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.