Consolidated Edison Inc (NYSE:ED) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. reduced its position in Consolidated Edison Inc (NYSE:ED) by 22.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,495 shares of the utilities provider’s stock after selling 1,006 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Consolidated Edison were worth $282,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. increased its stake 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 during the last quarter. Tompkins Financial Corp bought a new stake in Consolidated Edison during the first quarter worth about $118,000. Enterprise Financial Services Corp increased its stake 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 during the last quarter. Cypress Capital Management LLC WY increased its stake 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 during the last quarter. Finally, Atwood & Palmer Inc. increased its stake 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 during the last quarter. Institutional investors own 55.61% of the company’s stock.
Consolidated Edison Inc (NYSE ED) opened at 82.80 on Monday. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13. The stock’s 50 day moving average is $82.24 and its 200-day moving average is $78.85. The company has a market cap of $25.29 billion, a P/E ratio of 19.07 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the company posted $0.60 EPS. Analysts predict that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s payout ratio is 66.67%.
A number of equities research analysts have issued reports on the stock. UBS AG increased their target price on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a research report on Monday, May 8th. BidaskClub upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating and cut their target price for the stock from $88.00 to $83.50 in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a research report on Friday, May 5th. Six research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. 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 bought 900 shares of Consolidated Edison stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the completion of the acquisition, the director now owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 1,319 shares of company stock valued at $106,510 in the last 90 days. 0.20% of the stock is currently owned by corporate 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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