Tower Research Capital LLC TRC Grows Stake in Consolidated Edison, Inc. (NYSE:ED)

Tower Research Capital LLC TRC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 105.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,598 shares of the utilities provider’s stock after acquiring an additional 2,365 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Consolidated Edison were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FTB Advisors Inc. lifted its stake in shares of Consolidated Edison by 220.2% during the 2nd quarter. FTB Advisors Inc. now owns 285 shares of the utilities provider’s stock valued at $25,000 after buying an additional 196 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Consolidated Edison during the 2nd quarter valued at approximately $25,000. Coastal Capital Group Inc. purchased a new stake in shares of Consolidated Edison during the 2nd quarter valued at approximately $26,000. 1 North Wealth Services LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at approximately $28,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 60.18% of the company’s stock.

A number of analysts recently commented on the stock. Mizuho upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their price target for the company from $93.00 to $98.00 in a research note on Friday, October 25th. KeyCorp upped their price target on shares of Consolidated Edison from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Co dropped their price target on shares of Consolidated Edison from $95.00 to $94.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 5th. UBS Group upped their price target on shares of Consolidated Edison from $96.00 to $98.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $91.61.

Consolidated Edison stock opened at $87.73 on Monday. The firm’s 50 day simple moving average is $91.62 and its 200 day simple moving average is $88.78. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $29.00 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 10.10 and a beta of 0.04. Consolidated Edison, Inc. has a 1-year low of $73.29 and a 1-year high of $94.97.

Consolidated Edison (NYSE:ED) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.04). The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.50 billion. Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. During the same period last year, the company posted $1.57 EPS. Research analysts forecast that Consolidated Edison, Inc. will post 4.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, November 12th. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.

Consolidated Edison Profile

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 3.5 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 1,622 customers in parts of Manhattan.

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

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