Texas Yale Capital Corp. Sells 776 Shares of Consolidated Edison Inc (ED)
Texas Yale Capital Corp. trimmed its stake in Consolidated Edison Inc (NYSE:ED) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,755 shares of the utilities provider’s stock after selling 776 shares during the period. Texas Yale Capital Corp.’s holdings in Consolidated Edison were worth $706,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ED. Assetmark Inc. increased its position in Consolidated Edison by 50.0% during the 3rd quarter. Assetmark Inc. now owns 7,823 shares of the utilities provider’s stock valued at $631,000 after buying an additional 2,608 shares in the last quarter. Wealth Architects LLC increased its position in Consolidated Edison by 15.8% during the 3rd quarter. Wealth Architects LLC now owns 8,714 shares of the utilities provider’s stock valued at $703,000 after buying an additional 1,190 shares in the last quarter. Pacer Advisors Inc. increased its position in Consolidated Edison by 10.4% during the 3rd quarter. Pacer Advisors Inc. now owns 7,168 shares of the utilities provider’s stock valued at $578,000 after buying an additional 678 shares in the last quarter. NEXT Financial Group Inc increased its position in Consolidated Edison by 5.5% during the 3rd quarter. NEXT Financial Group Inc now owns 18,033 shares of the utilities provider’s stock valued at $1,498,000 after buying an additional 936 shares in the last quarter. Finally, Girard Partners LTD. increased its position in Consolidated Edison by 14.2% during the 3rd quarter. Girard Partners LTD. now owns 6,368 shares of the utilities provider’s stock valued at $514,000 after buying an additional 790 shares in the last quarter. 55.48% of the stock is owned by hedge funds and other institutional investors.
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Shares of Consolidated Edison Inc (NYSE:ED) traded up $0.18 on Thursday, hitting $86.66. The stock had a trading volume of 1,024,500 shares, compared to its average volume of 1,515,242. Consolidated Edison Inc has a 1 year low of $68.85 and a 1 year high of $89.58. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $26,814.75, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 7.05 and a beta of 0.10.
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 business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a $0.69 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.18%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.00%.
A number of research analysts have recently weighed in on the company. 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. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Tuesday, November 14th. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley increased their price objective on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Finally, BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $80.32.
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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