KBC Group NV Purchases 4,588 Shares of Consolidated Edison, Inc. (NYSE:ED)

KBC Group NV boosted its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,095 shares of the utilities provider's stock after buying an additional 4,588 shares during the period. KBC Group NV's holdings in Consolidated Edison were worth $4,113,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock worth $102,980,000 after acquiring an additional 935,962 shares during the period. FMR LLC lifted its position in shares of Consolidated Edison by 82.3% in the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after purchasing an additional 572,530 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. National Bank of Canada FI grew its position in Consolidated Edison by 350.6% during the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider's stock valued at $64,634,000 after purchasing an additional 482,953 shares in the last quarter. Finally, State Street Corp increased its stake 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 buying an additional 399,034 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE:ED traded up $0.04 during trading hours on Friday, hitting $93.90. 6,072,722 shares of the company traded hands, compared to its average volume of 2,478,796. 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. The firm has a 50-day moving average of $92.58 and a 200 day moving average of $98.03. The stock has a market capitalization of $32.53 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.95 and a beta of 0.38.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating 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 business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.62%. Consolidated Edison's payout ratio is currently 62.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ED. Barclays decreased their target price on shares of Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research note on Monday. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. 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 on the stock. Morgan Stanley decreased their target price on Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Finally, Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $100.00.

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.