Amundi Boosts Holdings in Consolidated Edison, Inc. (NYSE:ED)

Amundi increased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 12.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,221,729 shares of the utilities provider’s stock after acquiring an additional 242,243 shares during the period. Amundi’s holdings in Consolidated Edison were worth $197,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Consolidated Edison by 25.7% during the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the utilities provider’s stock valued at $476,000 after buying an additional 1,090 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Consolidated Edison during the 4th quarter valued at about $303,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the 4th quarter worth approximately $44,000. Machina Capital S.A.S. purchased a new position in Consolidated Edison in the 4th quarter worth approximately $828,000. Finally, Callan Family Office LLC bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $305,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Scotiabank raised their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday, February 24th. Mizuho increased 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. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Up 2.8 %

ED stock opened at $103.73 on Monday. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $107.75. The company has a market capitalization of $35.97 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The business’s 50 day moving average price is $94.39 and its two-hundred day moving average price is $98.01. 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 quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 represents a $3.40 annualized dividend and a yield of 3.28%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is presently 64.89%.

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.