11,000 Consolidated Edison Inc $ED Shares Purchased by Danske Bank A S

Danske Bank A S boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 800,173 shares of the utilities provider’s stock after buying an additional 11,000 shares during the period. Danske Bank A S’s holdings in Consolidated Edison were worth $81,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Consolidated Edison in the second quarter worth $4,609,491,000. Lazard Asset Management LLC increased its position in Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after acquiring an additional 910,244 shares during the last quarter. Deutsche Bank AG bought a new position in Consolidated Edison during the second quarter valued at $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Consolidated Edison by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider’s stock valued at $536,298,000 after acquiring an additional 353,000 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Consolidated Edison in the second quarter valued at $494,352,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a report on Monday, October 19th. Royal Bank Of Canada cut their price target on shares of Consolidated Edison from $110.00 to $109.00 in a report on Monday, October 26th. KeyCorp cut their price target on shares of Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Wells Fargo & Company increased their price objective on shares of Consolidated Edison from $118.00 to $134.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Finally, Evercore decreased their price objective on shares of Consolidated Edison from $116.00 to $112.00 in a research note on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $109.74.

Consolidated Edison Stock Up 1.4%

Shares of NYSE ED traded up $1.64 during mid-day trading on Friday, reaching $120.99. 1,955,177 shares of the company were exchanged, compared to its average volume of 2,416,144. The stock has a market cap of $44.90 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 4.13 and a beta of 0.23. The firm has a 50-day moving average of $110.09 and a 200 day moving average of $109.73. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $122.75. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.02.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 5th. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Consolidated Edison had a return on equity of 8.58% and a net margin of 12.70%. During the same period last year, the business posted $1.90 earnings per share. On average, research analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $3.55 dividend on an annualized basis and a yield of 2.9%. Consolidated Edison’s dividend payout ratio (DPR) is currently 56.80%.

About Consolidated Edison

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.