Consolidated Edison, Inc. (ED) Shares Bought by Jefferies Group LLC

Jefferies Group LLC boosted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 607.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,077 shares of the utilities provider’s stock after acquiring an additional 93,658 shares during the period. Jefferies Group LLC’s holdings in Consolidated Edison were worth $8,311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ED. Laurel Wealth Advisors Inc. grew its holdings in shares of Consolidated Edison by 1.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 51,327 shares of the utilities provider’s stock worth $4,002,000 after purchasing an additional 662 shares in the last quarter. State Treasurer State of Michigan grew its holdings in shares of Consolidated Edison by 0.8% during the 3rd quarter. State Treasurer State of Michigan now owns 92,728 shares of the utilities provider’s stock worth $7,065,000 after purchasing an additional 700 shares in the last quarter. FineMark National Bank & Trust grew its holdings in shares of Consolidated Edison by 16.3% during the 3rd quarter. FineMark National Bank & Trust now owns 5,012 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 701 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Consolidated Edison by 6.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,612 shares of the utilities provider’s stock worth $885,000 after purchasing an additional 710 shares in the last quarter. Finally, WealthTrust Axiom LLC grew its holdings in shares of Consolidated Edison by 2.2% during the 3rd quarter. WealthTrust Axiom LLC now owns 33,775 shares of the utilities provider’s stock worth $2,573,000 after purchasing an additional 720 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.

ED has been the topic of several analyst reports. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, September 12th. Bank of America increased their target price on Consolidated Edison from $84.50 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Morgan Stanley reduced their target price on Consolidated Edison from $81.00 to $77.00 and set a “sell” rating on the stock in a report on Friday, September 21st. Goldman Sachs Group raised Consolidated Edison from a “sell” rating to a “neutral” rating and increased their target price for the stock from $72.00 to $73.00 in a report on Monday, November 5th. Finally, ValuEngine lowered Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $77.36.

NYSE:ED opened at $81.63 on Friday. The stock has a market capitalization of $25.54 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 4.78 and a beta of 0.04. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. Consolidated Edison, Inc. has a twelve month low of $71.12 and a twelve month high of $89.70.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. Consolidated Edison had a return on equity of 8.64% and a net margin of 12.60%. During the same period last year, the firm posted $1.47 earnings per share. Equities analysts predict that Consolidated Edison, Inc. will post 4.29 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Wednesday, November 14th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.93%.

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Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,600 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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