AMF Tjanstepension AB Has $33.37 Million Stake in Consolidated Edison Inc $ED

AMF Tjanstepension AB lifted its stake in Consolidated Edison Inc (NYSE:ED) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 294,856 shares of the utilities provider’s stock after buying an additional 8,234 shares during the period. AMF Tjanstepension AB’s holdings in Consolidated Edison were worth $33,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sachetta LLC boosted its holdings in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $26,000. Aventura Private Wealth LLC bought a new position in shares of Consolidated Edison in the 4th quarter valued at $27,000. Finally, Westfuller Advisors LLC bought a new position in shares of Consolidated Edison in the 4th quarter valued at $27,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $111.24 on Monday. The firm has a market cap of $41.00 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The business’s 50 day moving average price is $108.12 and its two-hundred day moving average price is $108.21. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 59.76%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ED shares. Barclays lowered their price objective on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Evercore set a $116.00 price objective on Consolidated Edison in a report on Monday, May 11th. Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research report on Tuesday, April 21st. Finally, KeyCorp upped their price target on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $108.07.

Consolidated Edison Profile

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.