85,389 Shares in Consolidated Edison Inc $ED Acquired by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Consolidated Edison Inc (NYSE:ED) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 85,389 shares of the utilities provider’s stock, valued at approximately $9,664,000.

Several other institutional investors and hedge funds have also made changes to their positions in ED. ABN Amro Investment Solutions raised its position in shares of Consolidated Edison by 46.8% in the 1st quarter. ABN Amro Investment Solutions now owns 43,371 shares of the utilities provider’s stock valued at $4,909,000 after purchasing an additional 13,835 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Consolidated Edison by 2.2% in the first quarter. PNC Financial Services Group Inc. now owns 254,693 shares of the utilities provider’s stock worth $28,826,000 after buying an additional 5,483 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new stake in Consolidated Edison in the first quarter valued at $442,000. Cassaday & Co Wealth Management LLC acquired a new stake in Consolidated Edison in the first quarter valued at $82,000. Finally, Convergence Investment Partners LLC bought a new position in Consolidated Edison during the 1st quarter valued at $1,282,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

Shares of ED opened at $109.87 on Wednesday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The stock’s fifty day moving average is $108.65 and its 200-day moving average is $108.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a market capitalization of $40.49 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

Analyst Ratings Changes

Several brokerages have weighed in on ED. Barclays decreased their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Mizuho reaffirmed a “neutral” rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Finally, Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $108.07.

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.