BI Asset Management Fondsmaeglerselskab A S Has $1.27 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

BI Asset Management Fondsmaeglerselskab A S raised its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 146.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,227 shares of the utilities provider's stock after purchasing an additional 8,445 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Consolidated Edison were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Consolidated Edison by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,314,463 shares of the utilities provider's stock worth $117,288,000 after purchasing an additional 38,630 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Consolidated Edison by 9.5% during the 4th quarter. First Trust Advisors LP now owns 787,035 shares of the utilities provider's stock worth $70,227,000 after buying an additional 68,004 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Consolidated Edison by 10.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 913,387 shares of the utilities provider's stock worth $81,430,000 after buying an additional 87,298 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Consolidated Edison by 2.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 713,317 shares of the utilities provider's stock valued at $63,649,000 after acquiring an additional 20,288 shares in the last quarter. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $385,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 2.1 %

Shares of ED stock opened at $113.28 on Wednesday. The stock has a market capitalization of $40.80 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 3.05 and a beta of 0.27. The company's fifty day simple moving average is $105.44 and its two-hundred day simple moving average is $99.32. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. 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 - Get Free Report) last released its quarterly earnings data 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 return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a yield of 3.00%. Consolidated Edison's dividend payout ratio is currently 64.89%.

Analysts Set New Price Targets

Several research analysts have weighed in on ED shares. Scotiabank boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. 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. UBS Group lifted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley increased their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. Finally, Citigroup raised their price target on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and a consensus target price of $103.30.

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.

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