Siemens Fonds Invest GmbH Acquires 11,028 Shares of Consolidated Edison, Inc. (NYSE:ED)

Siemens Fonds Invest GmbH increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 194.4% during the 4th quarter, HoldingsChannel reports. The fund owned 16,702 shares of the utilities provider’s stock after buying an additional 11,028 shares during the period. Siemens Fonds Invest GmbH’s holdings in Consolidated Edison were worth $1,490,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Consolidated Edison in the 4th quarter worth about $399,824,000. ExodusPoint Capital Management LP increased its stake in Consolidated Edison by 412.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider’s stock valued at $97,564,000 after purchasing an additional 879,866 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider’s stock worth $332,090,000 after buying an additional 812,885 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Consolidated Edison by 232.3% during the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider’s stock valued at $93,989,000 after buying an additional 736,348 shares during the last quarter. Finally, Burkehill Global Management LP bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $53,538,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 2.2%

Shares of NYSE ED opened at $104.31 on Friday. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a market capitalization of $37.58 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.05 and a beta of 0.29. The stock has a 50 day moving average price of $108.45 and a 200 day moving average price of $99.84. 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 results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the firm posted $2.15 EPS. Sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.26%. Consolidated Edison’s dividend payout ratio (DPR) is 62.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp cut Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research report on Wednesday. Guggenheim raised their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. UBS Group boosted their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $104.36.

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.