Swiss National Bank Buys 71,000 Shares of Consolidated Edison Inc $ED

Swiss National Bank raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,059,300 shares of the utilities provider’s stock after purchasing an additional 71,000 shares during the period. Swiss National Bank owned 0.29% of Consolidated Edison worth $119,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in Consolidated Edison during the third quarter valued at approximately $26,000. Aventura Private Wealth LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $27,000. Westfuller Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $27,000. Finally, Sachetta LLC boosted its holdings in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ED. Barclays cut their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Evercore set a $116.00 price target on shares of Consolidated Edison in a research note on Monday, May 11th. KeyCorp upped their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $108.07.

Consolidated Edison Stock Performance

Shares of ED stock opened at $111.16 on Tuesday. The firm has a market cap of $40.97 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.86 and a beta of 0.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $108.59 and its 200 day moving average is $108.73.

Consolidated Edison Dividend Announcement

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

About Consolidated Edison

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.