Zurcher Kantonalbank Zurich Cantonalbank Has $32.24 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 354,451 shares of the utilities provider’s stock after buying an additional 33,896 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Consolidated Edison worth $32,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its stake in Consolidated Edison by 89,231.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider’s stock worth $395,142,000 after purchasing an additional 4,141,220 shares in the last quarter. Norges Bank acquired a new position in Consolidated Edison in the fourth quarter worth $318,245,000. Morgan Stanley boosted its stake in Consolidated Edison by 33.3% in the fourth quarter. Morgan Stanley now owns 4,128,579 shares of the utilities provider’s stock worth $393,495,000 after purchasing an additional 1,030,730 shares in the last quarter. Newport Trust Company LLC acquired a new position in Consolidated Edison in the third quarter worth $51,134,000. Finally, International Assets Investment Management LLC boosted its stake in Consolidated Edison by 9,063.6% in the fourth quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock worth $47,216,000 after purchasing an additional 513,364 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. UBS Group reduced their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Barclays upped their price target on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Scotiabank upped their price target on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada cut their price target on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.96.

Consolidated Edison Trading Down 2.1 %

NYSE ED opened at $87.42 on Wednesday. The stock has a 50-day simple moving average of $88.85 and a 200 day simple moving average of $89.53. The company has a market capitalization of $30.20 billion, a PE ratio of 12.18, a P/E/G ratio of 8.42 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.92.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. Research analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 14th were issued a $0.83 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is 46.24%.

Consolidated Edison Company 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.