Skandinaviska Enskilda Banken AB publ Acquires 6,900 Shares of Consolidated Edison, Inc. (NYSE:ED)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,941 shares of the utilities provider’s stock after purchasing an additional 6,900 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Consolidated Edison were worth $6,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. United Bank bought a new position in shares of Consolidated Edison in the 3rd quarter worth $227,000. Prime Capital Investment Advisors LLC lifted its stake in shares of Consolidated Edison by 11.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 3,615 shares of the utilities provider’s stock valued at $376,000 after buying an additional 365 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Consolidated Edison by 2.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,067 shares of the utilities provider’s stock valued at $840,000 after buying an additional 216 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Consolidated Edison by 5.1% during the third quarter. OneDigital Investment Advisors LLC now owns 15,988 shares of the utilities provider’s stock worth $1,665,000 after acquiring an additional 770 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Consolidated Edison by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 120,228 shares of the utilities provider’s stock worth $12,507,000 after acquiring an additional 2,103 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ED shares. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. UBS Group raised their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Scotiabank boosted their price target 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 research analysts have rated the stock with a sell rating, seven have issued 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Up 1.9 %

Shares of NYSE ED opened at $106.60 on Friday. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $107.97. The business’s fifty day moving average price is $95.96 and its 200-day moving average price is $98.18. The stock has a market capitalization of $36.97 billion, a PE ratio of 20.34, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $3.63 billion. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.19%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

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.