Allianz SE Makes New $246,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Allianz SE purchased a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,760 shares of the utilities provider’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $27,000. Fairway Wealth LLC purchased a new stake in Consolidated Edison during the 4th quarter valued at about $36,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the fourth quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison during the fourth quarter worth about $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.8 %

Shares of ED opened at $110.69 on Tuesday. The firm has a market cap of $38.38 billion, a P/E ratio of 21.12, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $111.14. The stock’s 50 day moving average is $99.90 and its two-hundred day moving average is $98.53. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is 64.89%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ED shares. Morgan Stanley increased their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Barclays raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group boosted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Scotiabank boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $102.40.

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.