Oregon Public Employees Retirement Fund lifted its position in Consolidated Edison Inc (NYSE:ED) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,075 shares of the utilities provider’s stock after acquiring an additional 1,275 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Consolidated Edison were worth $2,668,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Fiera Capital Corp raised its position in shares of Consolidated Edison by 0.3% in the 2nd quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 13 shares in the last quarter. Sabal Trust CO raised its position in shares of Consolidated Edison by 0.6% in the 2nd quarter. Sabal Trust CO now owns 2,715 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 15 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Consolidated Edison by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 18 shares in the last quarter. Financial Architects Inc raised its position in shares of Consolidated Edison by 0.6% in the 2nd quarter. Financial Architects Inc now owns 3,378 shares of the utilities provider’s stock worth $273,000 after acquiring an additional 19 shares in the last quarter. Finally, United Asset Strategies Inc. raised its position in shares of Consolidated Edison by 0.3% in the 2nd quarter. United Asset Strategies Inc. now owns 6,749 shares of the utilities provider’s stock worth $545,000 after acquiring an additional 21 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.
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Shares of Consolidated Edison Inc (ED) opened at $87.19 on Friday. The company has a market capitalization of $27,034.92, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 7.09 and a beta of 0.10. Consolidated Edison Inc has a fifty-two week low of $68.76 and a fifty-two week high of $88.08. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate 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 business posted $1.51 EPS. sell-side analysts expect that Consolidated Edison Inc will post 4.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s payout ratio is 69.00%.
A number of research analysts recently weighed in on ED shares. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective for the company. in a research report on Tuesday, September 26th. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Finally, Bank of America Corporation started coverage on Consolidated Edison in a research report on Tuesday, October 24th. They set a “buy” rating and a $92.00 price objective for the company. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $78.96.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of Consolidated Edison stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders acquired 183 shares of company stock valued at $15,248. Corporate insiders own 0.20% of the company’s stock.
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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