Generali Asset Management SPA SGR Makes New Investment in Consolidated Edison, Inc. (NYSE:ED)

Generali Asset Management SPA SGR bought a new position in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 38,610 shares of the utilities provider’s stock, valued at approximately $3,445,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its stake in Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after buying an additional 104 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after acquiring an additional 104 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after purchasing an additional 124 shares during the period. Townsquare Capital LLC grew its holdings in Consolidated Edison by 2.4% during the 3rd quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 130 shares during the last quarter. Finally, Trust Point Inc. raised its position in Consolidated Edison by 4.9% in the 4th quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Scotiabank boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. UBS Group boosted their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Barclays lifted their target price 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, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $101.50.

Consolidated Edison Trading Up 0.3 %

Shares of NYSE:ED opened at $107.89 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $37.41 billion, a PE ratio of 20.59, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 12-month low of $87.16 and a 12-month high of $108.43. The business’s fifty day simple moving average is $96.75 and its 200-day simple moving average is $98.26.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. Consolidated Edison’s dividend payout ratio is presently 64.89%.

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.