Commerzbank Aktiengesellschaft FI Has $1.91 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Commerzbank Aktiengesellschaft FI raised its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 198.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,424 shares of the utilities provider’s stock after acquiring an additional 14,234 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Consolidated Edison were worth $1,911,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ED. Capital Performance Advisors LLP purchased a new position in Consolidated Edison during the third quarter valued at approximately $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $30,000. Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at $39,000. Finally, CGC Financial Services LLC increased its stake in shares of Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $104.09 on Tuesday. 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 firm has a fifty day simple moving average of $93.42 and a 200-day simple moving average of $97.97. The stock has a market capitalization of $36.09 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.05 and a beta of 0.39. Consolidated Edison, Inc. has a 1-year low of $86.56 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate 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. On average, sell-side analysts expect 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 will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.27%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of a number of research reports. UBS Group lifted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Scotiabank lifted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Barclays raised 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. Finally, Morgan Stanley decreased their target price on shares of 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $101.50.

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.