DekaBank Deutsche Girozentrale Cuts Stake in Consolidated Edison, Inc. (ED)

DekaBank Deutsche Girozentrale decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 56.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,410 shares of the utilities provider’s stock after selling 63,144 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Consolidated Edison were worth $3,885,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. APG Asset Management N.V. boosted its position in Consolidated Edison by 28.4% during the 4th quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after buying an additional 1,153,600 shares during the period. BlackRock Inc. boosted its position in Consolidated Edison by 2.7% during the 4th quarter. BlackRock Inc. now owns 25,916,294 shares of the utilities provider’s stock valued at $2,201,589,000 after buying an additional 680,592 shares during the period. Renaissance Technologies LLC boosted its position in Consolidated Edison by 40.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,099,400 shares of the utilities provider’s stock valued at $178,344,000 after buying an additional 607,000 shares during the period. Teacher Retirement System of Texas boosted its position in Consolidated Edison by 1,929.5% during the 4th quarter. Teacher Retirement System of Texas now owns 237,872 shares of the utilities provider’s stock valued at $20,207,000 after buying an additional 226,151 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Consolidated Edison by 53.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 640,734 shares of the utilities provider’s stock valued at $54,431,000 after buying an additional 224,421 shares during the period. 56.59% of the stock is owned by institutional investors.

NYSE:ED opened at $76.83 on Friday. Consolidated Edison, Inc. has a 12 month low of $73.73 and a 12 month high of $89.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.61. The stock has a market capitalization of $23.44 billion, a PE ratio of 18.78, a P/E/G ratio of 4.43 and a beta of 0.05.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.05. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.23 billion. Consolidated Edison had a net margin of 12.86% and a return on equity of 8.61%. Consolidated Edison’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. research analysts forecast that Consolidated Edison, Inc. will post 4.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Wednesday, May 16th will be paid a $0.715 dividend. The ex-dividend date is Tuesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 3.72%. Consolidated Edison’s payout ratio is 69.93%.

ED has been the subject of several analyst reports. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Thursday, January 18th. Morgan Stanley dropped their target price on shares of Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday, February 13th. ValuEngine cut shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. JPMorgan Chase raised their target price on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock a “sell” rating in a research report on Tuesday, April 10th. Finally, UBS initiated coverage on shares of Consolidated Edison in a research report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 target price for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $82.39.

Consolidated Edison Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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