Consolidated Edison Inc (ED) Shares Bought by Mark Sheptoff Financial Planning LLC
Mark Sheptoff Financial Planning LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 8.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,650 shares of the utilities provider’s stock after buying an additional 749 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Consolidated Edison were worth $780,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Armbruster Capital Management Inc. boosted its position in Consolidated Edison by 127.3% in the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock valued at $101,000 after buying an additional 700 shares in the last quarter. Stuart Chaussee & Associates Inc. boosted its position in shares of Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock valued at $106,000 after buying an additional 795 shares during the period. Oakworth Capital Inc. boosted its position in shares of Consolidated Edison by 10.5% in the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after buying an additional 137 shares during the period. Enterprise Financial Services Corp boosted its position in shares of Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock valued at $121,000 after buying an additional 38 shares during the period. Finally, Cypress Capital Management LLC WY boosted its position in shares of Consolidated Edison by 491.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after buying an additional 1,475 shares during the period. Institutional investors and hedge funds own 55.07% of the company’s stock.
Consolidated Edison Inc (ED) traded up 0.14% during midday trading on Thursday, reaching $84.20. 156,022 shares of the company traded hands. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $85.13. The stock has a market capitalization of $25.74 billion, a P/E ratio of 20.37 and a beta of 0.08. The firm has a 50-day moving average of $82.53 and a 200-day moving average of $80.00.
Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm posted $0.60 EPS. On average, analysts predict that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is 66.67%.
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Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Morgan Stanley increased their price objective on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC cut shares of Consolidated Edison from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $88.00 to $83.50 in a research note on Tuesday, June 13th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Consolidated Edison currently has a consensus rating of “Hold” and an average price target of $76.96.
In related news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the transaction, the chief executive officer now owns 24,017 shares in the company, valued at $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 392 shares of company stock worth $32,600. Insiders own 0.20% of the company’s stock.
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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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