National Planning Corp Acquires 484 Shares of Consolidated Edison Inc (NYSE:ED)
National Planning Corp raised its position in shares of Consolidated Edison Inc (NYSE:ED) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 32,159 shares of the utilities provider’s stock after buying an additional 484 shares during the period. National Planning Corp’s holdings in Consolidated Edison were worth $2,591,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ED. Armbruster Capital Management Inc. increased its position in Consolidated Edison by 127.3% in the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after buying an additional 700 shares in the last quarter. Stuart Chaussee & Associates Inc. increased 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. Oakworth Capital Inc. increased its position in Consolidated Edison by 10.5% in the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after buying an additional 137 shares in the last quarter. Tompkins Financial Corp purchased a new position in shares of Consolidated Edison during the first quarter valued at approximately $118,000. Finally, Enterprise Financial Services Corp increased its position in shares of Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock valued at $121,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 55.61% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE ED) opened at 83.64 on Friday. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 20.24 and a beta of 0.08. The stock’s 50 day moving average is $82.05 and its 200 day moving average is $79.21. Consolidated Edison Inc has a 12 month low of $68.76 and a 12 month high of $85.13.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period in the previous year, the company earned $0.60 earnings per share. Equities research analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio is 66.67%.
Several research analysts recently commented on ED shares. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Thursday, May 18th. Deutsche Bank AG downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a report on Monday, May 8th. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 target price (up previously from $76.00) on shares of Consolidated Edison in a report on Sunday, April 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a report on Monday, May 15th. Finally, Morgan Stanley lifted their target price on shares of Consolidated Edison from $77.00 to $78.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Consolidated Edison has an average rating of “Hold” and a consensus price target of $76.96.
In other Consolidated Edison news, Director Linda S. Sanford purchased 900 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average cost of $79.74 per share, with a total value of $71,766.00. Following the completion of the transaction, the director now owns 8,748 shares in the company, valued at $697,565.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have purchased 1,319 shares of company stock worth $106,510. 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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