Citizens Financial Group Inc RI Holds Holdings in Consolidated Edison Inc (ED)
Citizens Financial Group Inc RI held its stake in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,482 shares of the utilities provider’s stock at the close of the 2nd quarter. Citizens Financial Group Inc RI’s holdings in Consolidated Edison were worth $686,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in Consolidated Edison by 1,771.1% in the 1st quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock valued at $1,871,955,000 after purchasing an additional 22,816,233 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Consolidated Edison by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock valued at $1,654,504,000 after purchasing an additional 725,857 shares in the last quarter. State Street Corp boosted its holdings in Consolidated Edison by 0.4% in the 1st quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock valued at $1,550,245,000 after purchasing an additional 77,044 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Consolidated Edison by 34.1% in the 1st quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock valued at $270,138,000 after purchasing an additional 884,788 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Consolidated Edison by 7.1% in the 1st quarter. Geode Capital Management LLC now owns 3,071,862 shares of the utilities provider’s stock valued at $238,233,000 after purchasing an additional 204,869 shares in the last quarter. 55.09% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Citizens Financial Group Inc RI Holds Holdings in Consolidated Edison Inc (ED)” was first reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/13/citizens-financial-group-inc-ri-holds-holdings-in-consolidated-edison-inc-ed.html.
A number of brokerages have weighed in on ED. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and lowered their price objective for the company from $88.00 to $83.50 in a report on Tuesday, June 13th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $77.27.
In related news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the sale, the chief executive officer now directly owns 24,017 shares in the company, valued at $2,014,305.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 471 shares of company stock valued at $39,202 over the last quarter. Insiders own 0.20% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE:ED) traded down 0.20% on Wednesday, hitting $84.04. The company had a trading volume of 216,948 shares. Consolidated Edison Inc has a 12 month low of $68.76 and a 12 month high of $86.16. The company has a 50-day moving average of $83.55 and a 200 day moving average of $80.82. The stock has a market cap of $25.69 billion, a PE ratio of 20.33 and a beta of 0.09.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the 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 quarter last year, the business earned $0.60 earnings per share. Analysts anticipate that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
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).
Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED).
Receive News & Ratings for Consolidated Edison Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison Inc and related companies with MarketBeat.com's FREE daily email newsletter.