Hexavest Inc. Has $47.53 Million Holdings in Consolidated Edison, Inc. (ED)
Hexavest Inc. boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 559,530 shares of the utilities provider’s stock after buying an additional 7,453 shares during the period. Hexavest Inc.’s holdings in Consolidated Edison were worth $47,532,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. WFG Advisors LP increased its holdings 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 valued at $106,000 after purchasing an additional 214 shares during the period. AllSquare Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at $113,000. Day & Ennis LLC acquired a new position in shares of Consolidated Edison during the second quarter valued at $205,000. Tower Bridge Advisors acquired a new position in shares of Consolidated Edison during the third quarter valued at $208,000. Finally, Pinebridge Investments L.P. acquired a new position in shares of Consolidated Edison during the second quarter valued at $210,000. 55.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on ED shares. 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 set a “buy” rating and a $92.00 price target on the stock. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Finally, Guggenheim reissued a “hold” rating and set a $88.00 price target on shares of Consolidated Edison in a report on Wednesday, January 3rd. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $80.71.
Consolidated Edison, Inc. (ED) traded down $0.53 during trading hours on Friday, reaching $80.39. The company had a trading volume of 1,514,300 shares, compared to its average volume of 1,807,125. The firm has a market capitalization of $24,650.00, a price-to-earnings ratio of 20.15, a P/E/G ratio of 9.60 and a beta of 0.10. Consolidated Edison, Inc. has a 1 year low of $72.13 and a 1 year high of $89.70. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07). The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.14 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. During the same period in the previous year, the firm earned $1.51 earnings per share. equities analysts anticipate that Consolidated Edison, Inc. will post 4.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Tuesday, November 14th. Consolidated Edison’s payout ratio is currently 69.17%.
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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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