Tiaa Fsb purchased a new 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 purchased 29,643 shares of the utilities provider’s stock, valued at approximately $2,396,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Armbruster Capital Management Inc. raised its holdings in Consolidated Edison by 127.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 700 shares during the period. Stuart Chaussee & Associates Inc. raised its holdings in Consolidated Edison by 138.3% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 795 shares during the period. Oakworth Capital Inc. raised its holdings in Consolidated Edison by 10.5% in the 2nd quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 137 shares during the period. Enterprise Financial Services Corp raised its holdings in Consolidated Edison by 6.0% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 93 shares during the period. Finally, Cypress Capital Management LLC WY raised its holdings in Consolidated Edison by 491.7% in the 2nd quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 1,475 shares during the period. Hedge funds and other institutional investors own 55.06% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Jefferies Group LLC cut Consolidated Edison from a “buy” rating to a “hold” rating and decreased their target price for the stock from $88.00 to $83.50 in a report on Tuesday, June 13th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $77.63.

In other news, CEO Joseph P. Oates sold 1,908 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have bought 471 shares of company stock worth $39,202. Corporate insiders own 0.20% of the company’s stock.

Shares of Consolidated Edison Inc (ED) opened at 81.59 on Friday. The firm’s 50-day moving average price is $83.85 and its 200-day moving average price is $81.13. The company has a market capitalization of $24.94 billion, a PE ratio of 19.74 and a beta of 0.09. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $86.16.

Consolidated Edison (NYSE:ED) last posted its earnings results 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). Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the company earned $0.60 earnings per share. On average, analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, August 14th. Consolidated Edison’s payout ratio is currently 66.67%.

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About Consolidated Edison

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

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