Suntrust Banks Inc. trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 38.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 92,925 shares of the utilities provider’s stock after selling 59,013 shares during the quarter. Suntrust Banks Inc.’s holdings in Consolidated Edison were worth $7,892,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in ED. APG Asset Management N.V. lifted its stake in Consolidated Edison by 28.4% during the 4th quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after acquiring an additional 1,153,600 shares during the period. BlackRock Inc. lifted its stake in Consolidated Edison by 2.7% during the 4th quarter. BlackRock Inc. now owns 25,916,294 shares of the utilities provider’s stock valued at $2,201,589,000 after acquiring an additional 680,592 shares during the period. Janus Henderson Group PLC lifted its stake in Consolidated Edison by 25.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock valued at $232,610,000 after acquiring an additional 582,457 shares during the period. Vaughan David Investments Inc. IL lifted its stake in shares of Consolidated Edison by 202.9% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 416,247 shares of the utilities provider’s stock valued at $20,833,000 after purchasing an additional 278,822 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in shares of Consolidated Edison by 1,929.5% in the 4th quarter. Teacher Retirement System of Texas now owns 237,872 shares of the utilities provider’s stock valued at $20,207,000 after purchasing an additional 226,151 shares during the period. Institutional investors and hedge funds own 56.79% of the company’s stock.
Several equities analysts recently issued reports on ED shares. Zacks Investment Research cut shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Guggenheim reiterated a “hold” rating and issued a $88.00 target price on shares of Consolidated Edison in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. started coverage on shares of Consolidated Edison in a research note on Friday, January 12th. They issued an “underweight” rating and a $78.00 target price for the company. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, UBS Group started coverage on shares of Consolidated Edison in a research note on Friday, February 2nd. They issued a “neutral” rating and a $80.00 target price for the company. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $81.32.
Consolidated Edison, Inc. (ED) opened at $77.63 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. The firm has a market cap of $23,525.00, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 5.91 and a beta of 0.03. Consolidated Edison, Inc. has a 12-month low of $74.57 and a 12-month high of $89.70.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. equities analysts predict that Consolidated Edison, Inc. will post 4.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.715 per share. The ex-dividend date is Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a yield of 3.68%. Consolidated Edison’s dividend payout ratio is currently 57.89%.
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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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