Ariel Capital Advisors LLC Buys Shares of 2,566 Consolidated Edison Inc. (ED)
Ariel Capital Advisors LLC purchased a new position in Consolidated Edison Inc. (NYSE:ED) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,566 shares of the company’s stock, valued at approximately $206,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of ED. Stuart Chaussee & Associates Inc. boosted its position in shares of Consolidated Edison by 27.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 1,750 shares of the company’s stock valued at $141,000 after buying an additional 375 shares during the last quarter. Williams Jones & Associates LLC acquired a new position in shares of Consolidated Edison during the first quarter valued at about $146,000. Invictus RG acquired a new position in shares of Consolidated Edison during the first quarter valued at about $157,000. Kings Point Capital Management boosted its position in shares of Consolidated Edison by 4.1% in the first quarter. Kings Point Capital Management now owns 2,542 shares of the company’s stock valued at $195,000 after buying an additional 100 shares during the last quarter. Finally, PacWest Financial Management Inc acquired a new position in shares of Consolidated Edison during the second quarter valued at about $201,000. Hedge funds and other institutional investors own 54.76% of the company’s stock.
Shares of Consolidated Edison Inc. (NYSE:ED) traded down 1.61% during trading on Friday, reaching $75.30. 2,978,930 shares of the company traded hands. The stock’s 50 day moving average is $76.19 and its 200 day moving average is $76.31. Consolidated Edison Inc. has a 1-year low of $60.30 and a 1-year high of $81.88. The company has a market capitalization of $22.92 billion and a price-to-earnings ratio of 19.51.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same period last year, the company earned $0.78 earnings per share. On average, analysts forecast that Consolidated Edison Inc. will post $3.97 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, August 15th. Consolidated Edison’s dividend payout ratio is currently 69.25%.
Several brokerages have issued reports on ED. Goldman Sachs Group Inc. dropped their target price on shares of Consolidated Edison from $72.00 to $70.00 and set a “sell” rating on the stock in a report on Wednesday, September 14th. Zacks Investment Research raised shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Barclays PLC decreased their price target on shares of Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 21st. Morgan Stanley set a $69.00 price target on shares of Consolidated Edison and gave the company a “sell” rating in a research report on Wednesday, September 21st. Finally, Vetr raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $77.14 price target for the company in a research report on Wednesday, September 14th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.83.
About Consolidated Edison
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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