denkapparat Operations GmbH Has $332,000 Stake in Consolidated Edison Inc $ED

denkapparat Operations GmbH reduced its position in Consolidated Edison Inc (NYSE:ED) by 63.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,304 shares of the utilities provider’s stock after selling 5,654 shares during the quarter. denkapparat Operations GmbH’s holdings in Consolidated Edison were worth $332,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC grew its holdings in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after acquiring an additional 441 shares during the period. Empowered Funds LLC boosted its position in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 2,659 shares in the last quarter. Woodline Partners LP grew its stake in Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 8,468 shares during the period. Ritholtz Wealth Management grew its stake in Consolidated Edison by 60.8% during the second quarter. Ritholtz Wealth Management now owns 3,297 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 1,247 shares during the period. Finally, Mutual Advisors LLC increased its holdings in Consolidated Edison by 6.1% in the second quarter. Mutual Advisors LLC now owns 5,978 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 344 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Consolidated Edison Stock Up 1.7%

Shares of NYSE ED opened at $113.59 on Tuesday. The stock has a market capitalization of $41.00 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.10 and a beta of 0.38. The company has a 50-day moving average price of $102.53 and a 200-day moving average price of $100.66. Consolidated Edison Inc has a 1 year low of $94.50 and a 1 year high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Analysts Set New Price Targets

ED has been the topic of a number of research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. Barclays cut their target price on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a research note on Thursday, January 22nd. UBS Group lifted their price target on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. TD Cowen started coverage on shares of Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $104.20.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.