Assenagon Asset Management S.A. Has $27.18 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Assenagon Asset Management S.A. trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 304,604 shares of the utilities provider's stock after selling 102,255 shares during the period. Assenagon Asset Management S.A. owned 0.09% of Consolidated Edison worth $27,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $55,000. FSA Wealth Management LLC bought a new stake in Consolidated Edison in the 3rd quarter valued at $55,000. Finally, Webster Bank N. A. lifted its holdings in Consolidated Edison by 189.5% during the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 379 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and upped their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price objective for the company. Barclays dropped their price target on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday, November 8th. Finally, Scotiabank raised Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of "Hold" and a consensus price target of $100.64.

Consolidated Edison Price Performance

Consolidated Edison stock traded up $1.52 during trading hours on Friday, reaching $93.74. 3,516,795 shares of the stock were exchanged, compared to its average volume of 2,178,654. The stock has a 50 day moving average of $93.44 and a two-hundred day moving average of $97.81. The company has a market cap of $32.47 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.63%. Consolidated Edison's dividend payout ratio is presently 62.52%.

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.