Pictet Asset Management Holding SA Acquires 24,860 Shares of Consolidated Edison, Inc. (NYSE:ED)

Pictet Asset Management Holding SA lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,595 shares of the utilities provider’s stock after acquiring an additional 24,860 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Consolidated Edison worth $19,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the 4th quarter worth $27,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison during the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new position in Consolidated Edison in the fourth quarter worth about $35,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Consolidated Edison in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Finally, Morgan Stanley boosted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average price target of $102.40.

Consolidated Edison Trading Up 1.8 %

NYSE:ED opened at $110.69 on Tuesday. The company has a market cap of $38.38 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a 50 day simple moving average of $99.90 and a two-hundred day simple moving average of $98.53. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $111.14.

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

Consolidated Edison Increases Dividend

The firm also recently announced 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 yield of 3.07%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is 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.