3,400 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Generali Investments CEE investicni spolecnost a.s.

Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,400 shares of the utilities provider’s stock, valued at approximately $303,000.

Several other hedge funds have also bought and sold shares of ED. Capital Performance Advisors LLP bought a new stake in Consolidated Edison during the third quarter worth about $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the third quarter worth about $30,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison in the fourth quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Consolidated Edison in the fourth quarter worth about $44,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ED. Mizuho lifted 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. Barclays lifted 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 lifted their target price on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. 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 report on Friday, November 22nd. Finally, Scotiabank lifted their target price 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Stock Up 2.8 %

ED opened at $103.73 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average price of $94.39 and a 200-day moving average price of $98.01. Consolidated Edison, Inc. has a twelve month low of $87.16 and a twelve month high of $107.75. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Equities 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 will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is currently 64.89%.

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.