Consolidated Edison Inc (ED) Stake Lowered by Northstar Group Inc.
Northstar Group Inc. cut its position in Consolidated Edison Inc (NYSE:ED) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,250 shares of the company’s stock after selling 650 shares during the period. Northstar Group Inc.’s holdings in Consolidated Edison were worth $313,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC raised its position in Consolidated Edison by 0.4% in the second quarter. Advisory Services Network LLC now owns 2,479 shares of the company’s stock worth $199,000 after buying an additional 9 shares in the last quarter. Round Table Services LLC raised its position in Consolidated Edison by 0.4% in the second quarter. Round Table Services LLC now owns 3,814 shares of the company’s stock worth $307,000 after buying an additional 14 shares in the last quarter. Carnegie Capital Asset Management LLC raised its position in Consolidated Edison by 0.3% in the second quarter. Carnegie Capital Asset Management LLC now owns 4,916 shares of the company’s stock worth $391,000 after buying an additional 16 shares in the last quarter. Financial Architects Inc raised its position in Consolidated Edison by 0.3% in the third quarter. Financial Architects Inc now owns 5,471 shares of the company’s stock worth $412,000 after buying an additional 16 shares in the last quarter. Finally, Forte Capital LLC ADV raised its position in Consolidated Edison by 0.4% in the third quarter. Forte Capital LLC ADV now owns 6,600 shares of the company’s stock worth $497,000 after buying an additional 25 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.
Shares of Consolidated Edison Inc (NYSE:ED) traded down 0.03% during midday trading on Friday, reaching $73.60. The company had a trading volume of 1,179,908 shares. The company has a market capitalization of $22.43 billion, a P/E ratio of 18.13 and a beta of -0.02. Consolidated Edison Inc has a one year low of $66.20 and a one year high of $81.88. The company has a 50-day moving average price of $72.35 and a 200 day moving average price of $74.99.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, November 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 66.34%.
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A number of equities research analysts have weighed in on the company. Barclays PLC lowered their target price on Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, September 21st. RBC Capital Markets reiterated a “hold” rating and issued a $77.00 target price on shares of Consolidated Edison in a report on Wednesday, January 4th. Evercore ISI upgraded Consolidated Edison from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a report on Monday, September 26th. Vetr upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $77.14 target price for the company in a report on Tuesday, October 4th. Finally, Deutsche Bank AG upgraded Consolidated Edison from a “sell” rating to a “hold” rating and lifted their target price for the stock from $73.17 to $74.00 in a report on Monday, October 24th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Consolidated Edison presently has an average rating of “Hold” and an average price target of $74.82.
In other news, insider Craig S. Ivey sold 3,974 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $71.42, for a total value of $283,823.08. Following the completion of the transaction, the insider now owns 35,306 shares in the company, valued at approximately $2,521,554.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.
Consolidated Edison Company Profile
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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