Siemens Fonds Invest GmbH Grows Holdings in Consolidated Edison, Inc. (NYSE:ED)

Siemens Fonds Invest GmbH lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 194.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,702 shares of the utilities provider’s stock after acquiring 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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares during the period. Hennessy Advisors Inc. increased its holdings in shares of Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after buying an additional 3,900 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after acquiring an additional 4,451 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Consolidated Edison by 2.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 132,754 shares of the utilities provider’s stock valued at $11,846,000 after acquiring an additional 3,135 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in Consolidated Edison by 54.0% during the 4th quarter. Merit Financial Group LLC now owns 9,133 shares of the utilities provider’s stock valued at $815,000 after acquiring an additional 3,204 shares during the period. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. KeyCorp cut Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Citigroup upped their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Guggenheim boosted their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.36.

Consolidated Edison Stock Up 2.2%

Shares of NYSE ED opened at $104.31 on Friday. The firm has a fifty day simple moving average of $108.45 and a two-hundred day simple moving average of $99.84. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. 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 market capitalization of $37.58 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the company earned $2.15 earnings per share. Equities 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. Stockholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s payout ratio is presently 62.85%.

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.