HighPoint Advisor Group LLC maintained its stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,482 shares of the utilities provider’s stock at the end of the 2nd quarter. HighPoint Advisor Group LLC’s holdings in Consolidated Edison were worth $620,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in ED. KBC Group NV lifted its holdings in Consolidated Edison by 3.7% during the 1st quarter. KBC Group NV now owns 28,397 shares of the utilities provider’s stock valued at $2,205,000 after buying an additional 1,016 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Consolidated Edison by 142.1% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 151,635 shares of the utilities provider’s stock valued at $11,776,000 after buying an additional 89,013 shares in the last quarter. Stifel Financial Corp lifted its holdings in Consolidated Edison by 10.0% during the 1st quarter. Stifel Financial Corp now owns 104,995 shares of the utilities provider’s stock valued at $8,135,000 after buying an additional 9,583 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Consolidated Edison by 14.2% during the 1st quarter. Victory Capital Management Inc. now owns 104,828 shares of the utilities provider’s stock valued at $8,141,000 after buying an additional 13,045 shares in the last quarter. Finally, Atlantic Trust Group LLC lifted its holdings in Consolidated Edison by 1.8% during the 1st quarter. Atlantic Trust Group LLC now owns 24,074 shares of the utilities provider’s stock valued at $1,870,000 after buying an additional 418 shares in the last quarter. Institutional investors own 55.06% of the company’s stock.
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A number of brokerages recently weighed in on ED. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Evercore ISI downgraded shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 target price on the stock. in a research report on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $77.77.
In related news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the sale, the chief executive officer now owns 24,017 shares of the company’s stock, valued at $2,014,305.79. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 158 shares of company stock worth $13,022. 0.20% of the stock is owned by corporate insiders.
Shares of Consolidated Edison Inc (NYSE ED) traded down 0.18% on Friday, hitting $83.38. 507,934 shares of the stock were exchanged. Consolidated Edison Inc has a 52-week low of $68.76 and a 52-week high of $86.16. The company’s 50 day moving average is $83.11 and its 200-day moving average is $81.68. The stock has a market cap of $25.49 billion, a PE ratio of 20.17 and a beta of 0.09.
Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period last year, the business earned $0.60 EPS. Analysts predict that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, August 16th were issued a $0.69 dividend. The ex-dividend date was Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.30%. Consolidated Edison’s dividend payout ratio (DPR) is 66.67%.
About Consolidated Edison
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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