ETRADE Capital Management LLC Has $1,129,000 Position in Consolidated Edison Inc (ED)
ETRADE Capital Management LLC boosted its position in shares of Consolidated Edison Inc (NYSE:ED) by 35.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the company’s stock after buying an additional 3,937 shares during the period. ETRADE Capital Management LLC’s holdings in Consolidated Edison were worth $1,129,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFC Holdings Incorporated FL raised its position in shares of Consolidated Edison by 5.6% in the second quarter. IFC Holdings Incorporated FL now owns 12,828 shares of the company’s stock worth $1,029,000 after buying an additional 686 shares during the last quarter. World Asset Management Inc raised its position in shares of Consolidated Edison by 5.1% in the second quarter. World Asset Management Inc now owns 40,526 shares of the company’s stock worth $3,260,000 after buying an additional 1,959 shares during the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of 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 during the last quarter. Mizuho Trust & Banking Co. Ltd. raised its position in shares of Consolidated Edison by 3.4% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 470,827 shares of the company’s stock worth $37,873,000 after buying an additional 15,450 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Consolidated Edison by 3.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,351 shares of the company’s stock worth $3,568,000 after buying an additional 1,416 shares during the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.
Consolidated Edison Inc (NYSE:ED) opened at 74.29 on Friday. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 18.30 and a beta of 0.02. Consolidated Edison Inc has a 1-year low of $68.44 and a 1-year high of $81.88. The firm’s 50-day moving average price is $73.74 and its 200 day moving average price is $73.99.
Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 16th. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Consolidated Edison had a return on equity of 8.94% and a net margin of 10.06%. The company earned $2.71 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts predict that Consolidated Edison Inc will post $3.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th will be paid a dividend of $0.69 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Monday, February 13th. Consolidated Edison’s payout ratio is currently 68.32%.
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A number of research analysts recently commented on the company. Vetr lowered Consolidated Edison from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a research note on Tuesday, November 8th. Deutsche Bank AG restated a “hold” rating on shares of Consolidated Edison in a research note on Friday, November 4th. RBC Capital Markets reiterated a “hold” rating and set a $77.00 price objective on shares of Consolidated Edison in a research note on Wednesday, January 4th. Credit Suisse Group started coverage on Consolidated Edison in a research note on Wednesday, January 25th. They set an “underperform” rating and a $68.00 price objective for the company. Finally, Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $74.25.
In other news, insider Craig S. Ivey sold 3,974 shares of Consolidated Edison stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $71.42, for a total transaction of $283,823.08. Following the completion of the transaction, the insider now directly owns 35,306 shares in the company, valued at approximately $2,521,554.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 415 shares of company stock valued at $29,737 over the last quarter. 0.16% of the stock is currently owned by corporate insiders.
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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