OMERS ADMINISTRATION Corp Buys Shares of 26,979 Consolidated Edison Inc (ED)
OMERS ADMINISTRATION Corp bought a new position in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,979 shares of the utilities provider’s stock, valued at approximately $2,180,000.
A number of other institutional investors also recently modified their holdings of the company. First Manhattan Co. boosted its position in shares of Consolidated Edison by 11.6% in the first quarter. First Manhattan Co. now owns 7,137 shares of the utilities provider’s stock worth $537,000 after buying an additional 742 shares during the period. Strs Ohio boosted its position in shares of Consolidated Edison by 8.0% in the first quarter. Strs Ohio now owns 40,623 shares of the utilities provider’s stock worth $3,154,000 after buying an additional 3,023 shares during the period. First Midwest Bank Trust Division boosted its position in shares of Consolidated Edison by 10.7% in the first quarter. First Midwest Bank Trust Division now owns 3,816 shares of the utilities provider’s stock worth $296,000 after buying an additional 370 shares during the period. Leavell Investment Management Inc. boosted its position in shares of Consolidated Edison by 16.8% in the first quarter. Leavell Investment Management Inc. now owns 4,890 shares of the utilities provider’s stock worth $380,000 after buying an additional 703 shares during the period. Finally, Breton Hill Capital Ltd. boosted its position in shares of Consolidated Edison by 15.5% in the first quarter. Breton Hill Capital Ltd. now owns 21,897 shares of the utilities provider’s stock worth $1,701,000 after buying an additional 2,942 shares during the period. Hedge funds and other institutional investors own 55.07% of the company’s stock.
Shares of Consolidated Edison Inc (ED) opened at 84.08 on Thursday. The company has a 50-day moving average price of $82.53 and a 200-day moving average price of $80.00. Consolidated Edison Inc has a 12 month low of $68.76 and a 12 month high of $85.13. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 20.34 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same quarter last year, the company earned $0.60 earnings per share. Analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
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ED has been the topic of a number of recent analyst reports. BMO Capital Markets restated a “hold” rating and set a $80.00 target price on shares of Consolidated Edison in a report on Friday, May 5th. Deutsche Bank AG cut Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a report on Monday, May 8th. UBS AG raised their target price on Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, May 8th. Morgan Stanley raised their price target on Consolidated Edison from $77.00 to $78.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Finally, Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Friday, May 12th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.96.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the transaction, the chief executive officer now owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 392 shares of company stock valued at $32,600 in the last three months. Insiders own 0.20% of the company’s stock.
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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