Commerzbank Aktiengesellschaft FI Has $1.91 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Commerzbank Aktiengesellschaft FI raised its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 198.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,424 shares of the utilities provider's stock after acquiring an additional 14,234 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Consolidated Edison were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. State Street Corp lifted its position in Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock valued at $2,439,684,000 after acquiring an additional 399,034 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Consolidated Edison by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider's stock worth $919,041,000 after buying an additional 107,281 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Consolidated Edison by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider's stock worth $198,625,000 after buying an additional 77,323 shares in the last quarter. 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 valued at $223,373,000 after buying an additional 82,985 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Consolidated Edison by 13.8% in the 4th quarter. Allianz Asset Management GmbH now owns 1,847,034 shares of the utilities provider's stock valued at $164,811,000 after acquiring an additional 224,258 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

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Consolidated Edison Stock Performance

Shares of NYSE ED traded up $2.82 during midday trading on Friday, hitting $103.73. 2,865,756 shares of the company's stock were exchanged, compared to its average volume of 2,740,435. Consolidated Edison, Inc. has a 12 month low of $87.16 and a 12 month high of $107.75. The company's 50 day moving average price is $94.11 and its 200 day moving average price is $98.02. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $35.97 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. As a group, analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.28%. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ED shares. UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Barclays lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research report on Monday, February 24th. Finally, Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has an average rating of "Hold" and an average target price of $101.50.

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.