Parametric Portfolio Associates LLC Increases Stake in Consolidated Edison, Inc. (ED)
Parametric Portfolio Associates LLC grew its position in Consolidated Edison, Inc. (NYSE:ED) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,109,470 shares of the utilities provider’s stock after purchasing an additional 59,098 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.36% of Consolidated Edison worth $89,512,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in ED. WFG Advisors LP increased its holdings in shares of Consolidated Edison by 19.6% in 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 in the third quarter valued at about $113,000. Dupont Capital Management Corp acquired a new position in shares of Consolidated Edison in the second quarter valued at about $191,000. RFG Advisory Group LLC acquired a new position in shares of Consolidated Edison in the second quarter valued at about $204,000. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Consolidated Edison in the second quarter valued at about $204,000. 55.69% of the stock is currently owned by institutional investors and hedge funds.
ED has been the topic of a number of research reports. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Jefferies Group restated a “hold” rating and issued a $83.50 target price on shares of Consolidated Edison in a research note on Thursday, August 31st. Morgan Stanley upped their target price on Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Monday, September 11th. Finally, Evercore ISI downgraded Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 target price on the stock. in a research note on Tuesday, September 26th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.32.
Consolidated Edison (NYSE:ED) last issued its quarterly 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 business had revenue of $3.21 billion for 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 company posted $1.51 EPS. equities research analysts expect that Consolidated Edison, Inc. will post 4.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were given a dividend of $0.69 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.13%. Consolidated Edison’s dividend payout ratio is currently 69.00%.
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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