Whitehelm Capital Pty Ltd lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,214 shares of the utilities provider’s stock after purchasing an additional 4,446 shares during the period. Consolidated Edison comprises 7.4% of Whitehelm Capital Pty Ltd’s investment portfolio, making the stock its 4th biggest position. Whitehelm Capital Pty Ltd’s holdings in Consolidated Edison were worth $7,566,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in ED. Girard Partners LTD. lifted its holdings in shares of Consolidated Edison by 3.8% in the 4th quarter. Girard Partners LTD. now owns 4,120 shares of the utilities provider’s stock worth $315,000 after acquiring an additional 151 shares during the last quarter. Kaizen Advisory LLC grew its position in shares of Consolidated Edison by 21.3% during the fourth quarter. Kaizen Advisory LLC now owns 867 shares of the utilities provider’s stock worth $66,000 after acquiring an additional 152 shares during the last quarter. Kovack Advisors Inc. grew its position in shares of Consolidated Edison by 4.0% during the fourth quarter. Kovack Advisors Inc. now owns 4,144 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 160 shares during the last quarter. Cornell Pochily Investment Advisors Inc. grew its position in shares of Consolidated Edison by 1.5% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 11,545 shares of the utilities provider’s stock worth $882,000 after acquiring an additional 167 shares during the last quarter. Finally, NewSquare Capital LLC grew its position in shares of Consolidated Edison by 1.2% during the fourth quarter. NewSquare Capital LLC now owns 13,671 shares of the utilities provider’s stock worth $1,045,000 after acquiring an additional 168 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.
ED has been the subject of a number of research analyst reports. Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price target for the company. in a research report on Tuesday, February 12th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Wednesday, February 13th. Bank of America downgraded Consolidated Edison from a “buy” rating to a “neutral” rating in a report on Friday, January 18th. ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, Credit Suisse Group increased their price target on Consolidated Edison from $77.00 to $78.00 and gave the company an “underperform” rating in a report on Monday, February 25th. Five analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $77.34.
ED stock traded up $0.21 during midday trading on Monday, reaching $84.76. The stock had a trading volume of 19,545 shares, compared to its average volume of 1,629,327. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 1.04. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 9.69 and a beta of 0.12. Consolidated Edison, Inc. has a twelve month low of $71.12 and a twelve month high of $85.87.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 21st. The utilities provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.89 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 11.20%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 4.36 earnings per share for the current fiscal year.
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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 3.5 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 1,622 customers in parts of Manhattan.
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