Consolidated Edison Target of Unusually Large Options Trading (ED)
Consolidated Edison, Inc. (NYSE:ED) was the recipient of unusually large options trading on Monday. Traders bought 2,123 put options on the stock. This is an increase of 962% compared to the average volume of 200 put options.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ED. Neuberger Berman Group LLC lifted its position in shares of Consolidated Edison by 2.3% in the second quarter. Neuberger Berman Group LLC now owns 22,917 shares of the utilities provider’s stock valued at $1,852,000 after acquiring an additional 511 shares in the last quarter. CIBC World Markets Inc. purchased a new position in shares of Consolidated Edison in the second quarter valued at approximately $480,000. Franklin Resources Inc. lifted its position in shares of Consolidated Edison by 0.4% in the second quarter. Franklin Resources Inc. now owns 1,312,832 shares of the utilities provider’s stock valued at $106,103,000 after acquiring an additional 5,318 shares in the last quarter. AXA lifted its position in shares of Consolidated Edison by 23.6% in the second quarter. AXA now owns 205,826 shares of the utilities provider’s stock valued at $16,634,000 after acquiring an additional 39,300 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its position in shares of Consolidated Edison by 7.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 413,917 shares of the utilities provider’s stock valued at $33,452,000 after acquiring an additional 28,779 shares in the last quarter. Institutional investors and hedge funds own 55.50% of the company’s stock.
Several analysts have commented on ED shares. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective on the stock. in a report on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Bank of America started coverage on Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective on the stock. Finally, ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $80.95.
Shares of Consolidated Edison (ED) opened at $80.92 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. Consolidated Edison has a 1-year low of $72.13 and a 1-year high of $89.70. The company has a market capitalization of $25,090.00, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 9.60 and a beta of 0.10.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.07). The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same period in the previous year, the business posted $1.51 earnings per share. equities research analysts anticipate that Consolidated Edison will post 4.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were given a $0.69 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.76 annualized dividend and a dividend yield of 3.41%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.17%.
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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