Baillie Gifford & Co. raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 187,872 shares of the utilities provider’s stock after buying an additional 1,623 shares during the quarter. Baillie Gifford & Co. owned about 0.06% of Consolidated Edison worth $15,157,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ED. Armbruster Capital Management Inc. lifted its position in Consolidated Edison by 127.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after buying an additional 700 shares during the last quarter. WFG Advisors LP lifted its position in 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 last quarter. Oakworth Capital Inc. lifted its position in Consolidated Edison by 10.5% in the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 137 shares during the last quarter. Enterprise Financial Services Corp lifted its position in Consolidated Edison by 6.0% in the second quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 93 shares during the last quarter. Finally, Cypress Capital Management LLC WY lifted its position in Consolidated Edison by 491.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 1,475 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was 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 $2,014,305.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 183 shares of company stock valued at $15,248 in the last ninety days. 0.20% of the stock is currently owned by insiders.
Shares of Consolidated Edison Inc (NYSE ED) traded down $0.47 during midday trading on Friday, reaching $87.19. The company’s stock had a trading volume of 1,578,200 shares, compared to its average volume of 1,476,762. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $88.08. The company has a market cap of $27,034.92, a price-to-earnings ratio of 21.74, a PEG ratio of 7.09 and a beta of 0.10. 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 posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same quarter in the previous year, the firm posted $1.51 EPS. equities research analysts anticipate that Consolidated Edison Inc will post 4.1 earnings per share for the current year.
The firm also recently declared 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 3.17%. Consolidated Edison’s payout ratio is 69.00%.
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A number of brokerages recently commented on ED. BidaskClub upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Morgan Stanley increased their target price on Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.50 price target on shares of Consolidated Edison in a report on Thursday, August 31st. 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 report on Tuesday, September 26th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $78.96.
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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