TLP Group LLC Invests $257,000 in Consolidated Edison Inc (ED) Stock
TLP Group LLC acquired a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,177 shares of the utilities provider’s stock, valued at approximately $257,000.
Other large investors have also recently bought and sold shares of the company. Armbruster Capital Management Inc. boosted its position 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 valued at $101,000 after buying an additional 700 shares during the last quarter. Stuart Chaussee & Associates Inc. boosted its position 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 valued at $106,000 after buying an additional 795 shares during the last quarter. Oakworth Capital Inc. boosted its position in Consolidated Edison by 10.5% in the 2nd quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after buying an additional 137 shares during the last quarter. Enterprise Financial Services Corp boosted its position 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 valued at $133,000 after buying an additional 93 shares during the last quarter. Finally, Cypress Capital Management LLC WY boosted its position 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 valued at $143,000 after buying an additional 1,475 shares during the last quarter. 55.06% of the stock is owned by institutional investors.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the sale, the chief executive officer now directly owns 24,017 shares in the company, valued at approximately $2,014,305.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 471 shares of company stock worth $39,202 over the last 90 days. Company insiders own 0.20% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE ED) opened at 81.68 on Monday. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 19.76 and a beta of 0.09. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $86.16. The company’s 50-day moving average is $83.85 and its 200 day moving average is $81.13.
Consolidated Edison (NYSE:ED) last posted its quarterly 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). The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, equities research analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th were given a $0.69 dividend. The ex-dividend date was Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.38%. Consolidated Edison’s dividend payout ratio is 66.67%.
A number of equities research analysts have recently issued reports on ED shares. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday. BidaskClub upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and cut their target price for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Finally, Morgan Stanley upped their target price on shares of Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $77.63.
Consolidated Edison 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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