Consolidated Edison Inc (ED) Shares Bought by Sei Investments Co.
Sei Investments Co. raised its position in shares of Consolidated Edison Inc (NYSE:ED) by 40.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,475 shares of the utilities provider’s stock after purchasing an additional 27,945 shares during the period. Sei Investments Co.’s holdings in Consolidated Edison were worth $7,784,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Armbruster Capital Management Inc. grew its holdings in Consolidated Edison by 127.3% during the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 700 shares during the period. WFG Advisors LP grew its holdings in Consolidated Edison by 19.6% during the second quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 214 shares during the period. Oakworth Capital Inc. grew its holdings in Consolidated Edison by 10.5% during the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 137 shares during the period. Enterprise Financial Services Corp grew its holdings in Consolidated Edison by 6.0% during the second quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 93 shares during the period. Finally, Pinnacle Financial Partners Inc. bought a new position in Consolidated Edison during the second quarter valued at $164,000. 55.48% of the stock is owned by institutional investors and hedge funds.
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Several brokerages have weighed in on ED. Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective for the company. in a report on Tuesday, September 26th. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, November 14th. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley increased their price objective on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Finally, BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Consolidated Edison has an average rating of “Hold” and an average target price of $80.32.
Shares of Consolidated Edison Inc (NYSE ED) opened at $86.66 on Thursday. The stock has a market capitalization of $26,814.75, a price-to-earnings ratio of 21.57, a P/E/G ratio of 7.05 and a beta of 0.10. Consolidated Edison Inc has a 52 week low of $68.85 and a 52 week high of $89.58. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same period in the prior year, the business posted $1.51 EPS. equities analysts expect that Consolidated Edison Inc will post 4.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.18%. The ex-dividend date is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio is 69.00%.
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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