ABN Amro Investment Solutions Boosts Stake in Consolidated Edison Inc $ED

ABN Amro Investment Solutions increased its stake in Consolidated Edison Inc (NYSE:ED) by 46.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,371 shares of the utilities provider’s stock after buying an additional 13,835 shares during the quarter. ABN Amro Investment Solutions’ holdings in Consolidated Edison were worth $4,909,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its holdings in shares of Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock worth $23,201,000 after purchasing an additional 29,635 shares in the last quarter. North Dakota State Investment Board bought a new position in Consolidated Edison in the fourth quarter worth $1,228,000. Los Angeles Capital Management LLC lifted its position in Consolidated Edison by 9.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after purchasing an additional 20,972 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $24,109,000. Finally, Dougherty & Associates LLC bought a new position in shares of Consolidated Edison during the 4th quarter worth about $1,965,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ED shares. Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research note on Tuesday, April 21st. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Stock Up 2.1%

Consolidated Edison stock opened at $112.11 on Thursday. The company has a 50 day moving average of $108.77 and a 200-day moving average of $108.89. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a market capitalization of $41.31 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.79 and a beta of 0.27.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s payout ratio is currently 59.76%.

Consolidated Edison Company 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.