Regentatlantic Capital LLC Boosts Stake in Consolidated Edison Inc (NYSE:ED)
Regentatlantic Capital LLC raised its position in Consolidated Edison Inc (NYSE:ED) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 206,510 shares of the utilities provider’s stock after buying an additional 3,014 shares during the period. Consolidated Edison comprises about 1.5% of Regentatlantic Capital LLC’s investment portfolio, making the stock its 7th largest position. Regentatlantic Capital LLC’s holdings in Consolidated Edison were worth $16,690,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in ED. Stuart Chaussee & Associates Inc. raised its position in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares in the last quarter. Tompkins Financial Corp purchased a new position in Consolidated Edison during the first quarter worth $118,000. Enterprise Financial Services Corp raised its position in Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock worth $121,000 after buying an additional 38 shares in the last quarter. Atwood & Palmer Inc. raised its position in Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock worth $141,000 after buying an additional 1,200 shares in the last quarter. Finally, Cypress Capital Management LLC WY raised its position in Consolidated Edison by 491.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock worth $143,000 after buying an additional 1,475 shares in the last quarter. Institutional investors own 55.90% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE ED) opened at 82.29 on Friday. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $85.13. The stock has a market capitalization of $25.13 billion, a P/E ratio of 18.95 and a beta of 0.08. The firm’s 50-day moving average is $82.29 and its 200 day moving average is $78.56.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the firm earned $1.18 EPS. On average, analysts expect that Consolidated Edison Inc will post $4.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be given a $0.69 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 annualized dividend and a dividend yield of 3.35%. Consolidated Edison’s dividend payout ratio is presently 63.59%.
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A number of equities analysts have recently weighed in on the stock. UBS AG boosted their price objective on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research report on Monday, May 8th. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. BMO Capital Markets reissued a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a research report on Monday, May 15th. Finally, Deutsche Bank AG lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 price objective for the company. in a research report on Monday, May 8th. Six equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $76.82.
In other Consolidated Edison news, Director Linda S. Sanford acquired 900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $79.74 per share, for a total transaction of $71,766.00. Following the transaction, the director now owns 8,748 shares of the company’s stock, valued at $697,565.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 1,240 shares of company stock valued at $100,090 over the last quarter. 0.20% of the stock is owned by 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).
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