Zurcher Kantonalbank Zurich Cantonalbank Purchases 36,931 Shares of Consolidated Edison, Inc. (NYSE:ED)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Consolidated Edison, Inc. (NYSE:ED) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416,106 shares of the utilities provider’s stock after purchasing an additional 36,931 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.12% of Consolidated Edison worth $37,129,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. Geode Capital Management LLC raised its position in Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock valued at $919,041,000 after purchasing an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Consolidated Edison by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock worth $198,625,000 after acquiring an additional 77,323 shares during the last quarter. Amundi raised its position in shares of Consolidated Edison by 12.2% during the fourth quarter. Amundi now owns 2,221,729 shares of the utilities provider’s stock worth $197,795,000 after acquiring an additional 242,243 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 2.8 %

Shares of ED stock opened at $106.59 on Tuesday. The company has a market cap of $36.96 billion, a P/E ratio of 20.34, a PEG ratio of 3.05 and a beta of 0.30. The stock has a 50 day simple moving average of $94.74 and a two-hundred day simple moving average of $98.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a fifty-two week low of $87.16 and a fifty-two week high of $107.97.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Analysts Set New Price Targets

ED has been the subject of a number of analyst reports. UBS Group raised their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Finally, Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $101.50.

About Consolidated Edison

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.