Consolidated Edison Inc (ED) Holdings Raised by Global X MANAGEMENT CO LLC
Global X MANAGEMENT CO LLC grew its holdings in Consolidated Edison Inc (NYSE:ED) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,706 shares of the utilities provider’s stock after acquiring an additional 3,116 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Consolidated Edison were worth $9,981,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ED. Armbruster Capital Management Inc. boosted its position in shares of Consolidated Edison by 127.3% during the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after buying an additional 700 shares during the period. WFG Advisors LP boosted its position in shares of Consolidated Edison by 19.6% during the second quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after buying an additional 214 shares during the period. Oakworth Capital Inc. boosted its position in shares of Consolidated Edison by 10.5% during the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after buying an additional 137 shares during the period. Enterprise Financial Services Corp boosted its position in shares of Consolidated Edison by 6.0% during the second quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock worth $133,000 after buying an additional 93 shares during the period. Finally, Cypress Capital Management LLC WY boosted its position in shares of Consolidated Edison by 491.7% during the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock worth $143,000 after buying an additional 1,475 shares during the period. Institutional investors own 55.37% of the company’s stock.
Several research firms have recently weighed in on ED. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday. Evercore ISI cut Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective for the company. in a research report on Tuesday, September 26th. Zacks Investment Research raised Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub raised Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Morgan Stanley upped their price objective on Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.96.
Shares of Consolidated Edison Inc (NYSE ED) traded down $0.47 during midday trading on Friday, reaching $87.19. The company had a trading volume of 1,578,200 shares, compared to its average volume of 1,476,762. Consolidated Edison Inc has a 1 year low of $68.76 and a 1 year high of $88.08. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $27,034.92, a PE ratio of 21.74, a PEG ratio of 7.09 and a beta of 0.10.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company posted $1.51 earnings per share. sell-side analysts forecast that Consolidated Edison Inc will post 4.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.17%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.00%.
In other news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the completion of the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 183 shares of company stock valued at $15,248 over the last three months. Insiders own 0.20% of the company’s stock.
Consolidated Edison 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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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