United Bank Inc. continued to hold its position in Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,712 shares of the utilities provider’s stock at the end of the second quarter. United Bank Inc.’s holdings in Consolidated Edison were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Gulf International Bank UK Ltd boosted its position in Consolidated Edison by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 94,744 shares of the utilities provider’s stock valued at $7,357,000 after buying an additional 1,350 shares during the last quarter. Forte Capital LLC ADV boosted its position in Consolidated Edison by 5.3% in the first quarter. Forte Capital LLC ADV now owns 8,189 shares of the utilities provider’s stock valued at $636,000 after buying an additional 414 shares during the last quarter. Creative Planning boosted its position in Consolidated Edison by 2.0% in the first quarter. Creative Planning now owns 76,314 shares of the utilities provider’s stock valued at $5,927,000 after buying an additional 1,473 shares during the last quarter. Raymond James Trust N.A. boosted its position in Consolidated Edison by 0.8% in the first quarter. Raymond James Trust N.A. now owns 26,402 shares of the utilities provider’s stock valued at $2,050,000 after buying an additional 219 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Consolidated Edison by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 265,336 shares of the utilities provider’s stock valued at $20,606,000 after buying an additional 7,507 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Consolidated Edison Inc (NYSE ED) traded up 0.22% on Thursday, hitting $81.93. 87,654 shares of the company were exchanged. The firm’s 50-day moving average is $82.46 and its 200-day moving average is $78.26. The stock has a market capitalization of $25.02 billion, a PE ratio of 18.87 and a beta of 0.08. Consolidated Edison Inc has a 52-week low of $68.76 and a 52-week high of $85.13.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.05 billion. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. During the same period in the previous year, the business posted $1.18 EPS. Equities research analysts predict that Consolidated Edison Inc will post $4.09 earnings per share for the current year.

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Several research firms have recently weighed in on ED. BidaskClub cut Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and cut their price target for the stock from $88.00 to $83.50 in a research note on Tuesday, June 13th. Finally, UBS AG increased their price target on Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a research note on Monday, May 15th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $76.82.

In other Consolidated Edison news, Director Linda S. Sanford bought 900 shares of Consolidated Edison stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $79.74 per share, for a total transaction of $71,766.00. Following the acquisition, the director now directly owns 8,748 shares in the company, valued at $697,565.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have acquired 1,240 shares of company stock worth $100,090. 0.20% of the stock is owned by company insiders.

Consolidated Edison Company 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).

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

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