Aviance Capital Management LLC raised its position in shares of Consolidated Edison Inc. (NYSE:ED) by 36.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,647 shares of the company’s stock after buying an additional 28,350 shares during the period. Aviance Capital Management LLC’s holdings in Consolidated Edison were worth $8,579,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. purchased a new position in Consolidated Edison during the first quarter worth about $493,000. Aperio Group LLC raised its position in Consolidated Edison by 12.5% in the first quarter. Aperio Group LLC now owns 382,907 shares of the company’s stock worth $29,338,000 after buying an additional 42,556 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Consolidated Edison by 3.6% in the first quarter. Commonwealth Equity Services Inc now owns 312,913 shares of the company’s stock worth $23,975,000 after buying an additional 10,919 shares during the last quarter. Sii Investments Inc. WI raised its position in Consolidated Edison by 13.4% in the first quarter. Sii Investments Inc. WI now owns 6,551 shares of the company’s stock worth $507,000 after buying an additional 775 shares during the last quarter. Finally, Investment Centers of America Inc. raised its position in Consolidated Edison by 61.4% in the first quarter. Investment Centers of America Inc. now owns 38,720 shares of the company’s stock worth $2,973,000 after buying an additional 14,726 shares during the last quarter. Institutional investors and hedge funds own 54.76% of the company’s stock.
Shares of Consolidated Edison Inc. (NYSE:ED) traded down 0.22% during trading on Friday, reaching $78.68. 1,239,138 shares of the company traded hands. The stock has a market capitalization of $23.95 billion and a PE ratio of 20.39. Consolidated Edison Inc. has a 12 month low of $60.30 and a 12 month high of $81.88. The company has a 50-day moving average of $76.23 and a 200-day moving average of $76.13.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.09. Consolidated Edison had a return on equity of 8.88% and a net margin of 9.47%. During the same quarter in the prior year, the business earned $0.78 EPS. Analysts forecast that Consolidated Edison Inc. will post $3.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.41%. The ex-dividend date was Monday, August 15th. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.25%.
A number of research firms recently issued reports on ED. Vetr upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating and set a $74.71 target price on the stock in a research note on Wednesday, September 7th. Evercore ISI lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating and raised their price target for the stock from $69.50 to $72.50 in a research report on Wednesday, July 6th. BMO Capital Markets began coverage on shares of Consolidated Edison in a research report on Wednesday, June 22nd. They issued a “hold” rating and a $79.00 price target on the stock. Barclays PLC decreased their price target on shares of Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Citigroup Inc. began coverage on shares of Consolidated Edison in a research report on Friday, August 12th. They issued a “neutral” rating and a $76.00 price target on the stock. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.51.
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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