Consolidated Edison Inc (ED) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado lowered its position in Consolidated Edison Inc (NYSE:ED) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,112 shares of the utilities provider’s stock after selling 2,138 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Consolidated Edison were worth $4,204,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of ED. FMR LLC grew its holdings in Consolidated Edison by 10.8% during the first quarter. FMR LLC now owns 246,856 shares of the utilities provider’s stock valued at $19,171,000 after purchasing an additional 24,052 shares during the period. Dimensional Fund Advisors LP grew its holdings in Consolidated Edison by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 604,894 shares of the utilities provider’s stock valued at $46,977,000 after purchasing an additional 15,382 shares during the period. Flagship Harbor Advisors LLC grew its holdings in Consolidated Edison by 24.8% during the first quarter. Flagship Harbor Advisors LLC now owns 3,993 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 793 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new stake in Consolidated Edison during the first quarter valued at about $10,096,000. Finally, HighTower Advisors LLC grew its holdings in Consolidated Edison by 17.1% during the first quarter. HighTower Advisors LLC now owns 60,239 shares of the utilities provider’s stock valued at $4,687,000 after purchasing an additional 8,810 shares during the period. 55.37% of the stock is owned by institutional investors.
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 sale, the chief executive officer now directly owns 24,017 shares in the company, valued at $2,014,305.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased 183 shares of company stock worth $15,248 over the last quarter. 0.20% of the stock is owned by company insiders.
Several analysts have issued reports on ED shares. Morgan Stanley boosted their price target on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Jefferies Group LLC reissued a “hold” rating and set a $83.50 price target on shares of Consolidated Edison in a report on Thursday, August 31st. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Friday, September 22nd. Bank of America Corporation started coverage on Consolidated Edison in a report on Tuesday, October 24th. They set a “buy” rating and a $92.00 price target for the company. Finally, BidaskClub lowered Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $78.96.
Shares of Consolidated Edison Inc (NYSE ED) opened at $86.32 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. The company has a market capitalization of $26,988.39, a PE ratio of 21.71, a P/E/G ratio of 7.09 and a beta of 0.10. Consolidated Edison Inc has a 52-week low of $68.76 and a 52-week high of $87.58.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07). The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. During the same quarter in the prior year, the firm posted $1.51 earnings per share. analysts anticipate that Consolidated Edison Inc will post 4.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.69 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.20%. Consolidated Edison’s dividend payout ratio is currently 69.00%.
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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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