Consolidated Edison Inc. (ED) Stake Maintained by Court Place Advisors LLC
Court Place Advisors LLC maintained its stake in Consolidated Edison Inc. (NYSE:ED) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,800 shares of the company’s stock at the end of the second quarter. Court Place Advisors LLC’s holdings in Consolidated Edison were worth $306,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in shares of Consolidated Edison by 66.8% in the first quarter. Renaissance Technologies LLC now owns 825,300 shares of the company’s stock valued at $63,234,000 after buying an additional 330,600 shares during the period. Royal Bank of Canada boosted its position in shares of Consolidated Edison by 45.6% in the first quarter. Royal Bank of Canada now owns 761,325 shares of the company’s stock valued at $58,333,000 after buying an additional 238,503 shares during the period. Norges Bank purchased a new position in shares of Consolidated Edison during the fourth quarter valued at about $118,109,000. Ngam Advisors L.P. boosted its position in shares of Consolidated Edison by 27.5% in the first quarter. Ngam Advisors L.P. now owns 15,709 shares of the company’s stock valued at $1,204,000 after buying an additional 3,389 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Consolidated Edison by 25.1% in the first quarter. Nuveen Asset Management LLC now owns 31,973 shares of the company’s stock valued at $2,450,000 after buying an additional 6,416 shares during the period. Hedge funds and other institutional investors own 54.89% of the company’s stock.
Shares of Consolidated Edison Inc. (NYSE:ED) traded up 0.18% during mid-day trading on Tuesday, hitting $76.54. The stock had a trading volume of 2,458,376 shares. Consolidated Edison Inc. has a 12-month low of $60.30 and a 12-month high of $81.88. The stock has a market capitalization of $23.30 billion and a price-to-earnings ratio of 19.83. The stock’s 50-day moving average price is $76.29 and its 200-day moving average price is $76.10.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 4th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.69 by $0.09. Consolidated Edison had a return on equity of 8.88% and a net margin of 9.47%. During the same period last year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that Consolidated Edison Inc. will post $3.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.50%. The ex-dividend date was Monday, August 15th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.25%.
ED has been the topic of several research analyst reports. Vetr upgraded Consolidated Edison from a “sell” rating to a “hold” rating and set a $74.71 price target on the stock in a research report on Wednesday, September 7th. Citigroup Inc. initiated coverage on Consolidated Edison in a research report on Friday, August 12th. They set a “neutral” rating and a $76.00 price target on the stock. They noted that the move was a valuation call. Jefferies Group reiterated a “hold” rating on shares of Consolidated Edison in a research report on Monday, August 1st. Evercore ISI cut Consolidated Edison from a “hold” rating to a “sell” rating and lifted their price target for the company from $69.50 to $72.50 in a research report on Wednesday, July 6th. Finally, BMO Capital Markets initiated coverage on Consolidated Edison in a research report on Wednesday, June 22nd. They set a “hold” rating and a $79.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $74.26.
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) 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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