AMP Capital Investors Ltd Has $19.80 Million Stake in Consolidated Edison, Inc. (ED)

AMP Capital Investors Ltd trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 15.1% in the third quarter, HoldingsChannel reports. The firm owned 263,335 shares of the utilities provider’s stock after selling 47,006 shares during the quarter. AMP Capital Investors Ltd’s holdings in Consolidated Edison were worth $19,803,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Autus Asset Management LLC increased its position in Consolidated Edison by 0.9% during the 2nd quarter. Autus Asset Management LLC now owns 70,652 shares of the utilities provider’s stock worth $5,509,000 after purchasing an additional 656 shares in the last quarter. Laurel Wealth Advisors Inc. increased its position in Consolidated Edison by 1.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 51,327 shares of the utilities provider’s stock worth $4,002,000 after purchasing an additional 662 shares in the last quarter. State Treasurer State of Michigan grew its holdings in Consolidated Edison by 0.8% during the 3rd quarter. State Treasurer State of Michigan now owns 92,728 shares of the utilities provider’s stock worth $7,065,000 after acquiring an additional 700 shares during the last quarter. FineMark National Bank & Trust grew its holdings in Consolidated Edison by 16.3% during the 3rd quarter. FineMark National Bank & Trust now owns 5,012 shares of the utilities provider’s stock worth $382,000 after acquiring an additional 701 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Consolidated Edison by 6.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,612 shares of the utilities provider’s stock worth $885,000 after acquiring an additional 710 shares during the last quarter. Institutional investors and hedge funds own 58.75% of the company’s stock.

ED opened at $80.35 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $71.12 and a fifty-two week high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 0.62. The company has a market cap of $24.68 billion and a price-to-earnings ratio of 19.65.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.11. Consolidated Edison had a net margin of 12.60% and a return on equity of 8.64%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period in the previous year, the firm posted $1.47 EPS. Equities research analysts forecast that Consolidated Edison, Inc. will post 4.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 69.93%.

A number of research firms have weighed in on ED. Morgan Stanley boosted their target price on shares of Consolidated Edison from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Tuesday, September 11th. Wells Fargo & Co boosted their target price on shares of Consolidated Edison from $81.00 to $83.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, September 12th. UBS Group boosted their target price on shares of Consolidated Edison from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, September 21st. Finally, Barclays boosted their target price on shares of Consolidated Edison from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $77.36.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.com-unik.info/2018/12/02/amp-capital-investors-ltd-has-19-80-million-stake-in-consolidated-edison-inc-ed.html.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.

Featured Article: Asset Allocation

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit