DT Investment Partners LLC raised its position in Consolidated Edison Inc. (NYSE:ED) by 16.0% during the second quarter, Holdings Channel reports. The fund owned 8,730 shares of the company’s stock after buying an additional 1,204 shares during the period. DT Investment Partners LLC’s holdings in Consolidated Edison were worth $702,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Hancock Holding Co. boosted its position in Consolidated Edison by 5.4% in the first quarter. Hancock Holding Co. now owns 11,780 shares of the company’s stock worth $903,000 after buying an additional 603 shares during the last quarter. Prudential PLC raised its stake in Consolidated Edison by 23.4% in the first quarter. Prudential PLC now owns 17,400 shares of the company’s stock valued at $1,333,000 after buying an additional 3,300 shares during the period. Geode Capital Management LLC raised its stake in Consolidated Edison by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,534,280 shares of the company’s stock valued at $193,807,000 after buying an additional 45,773 shares during the period. Loomis Sayles & Co. L P raised its stake in Consolidated Edison by 2.0% in the first quarter. Loomis Sayles & Co. L P now owns 9,334 shares of the company’s stock valued at $715,000 after buying an additional 187 shares during the period. Finally, AXA raised its stake in Consolidated Edison by 3.2% in the first quarter. AXA now owns 218,300 shares of the company’s stock valued at $16,726,000 after buying an additional 6,700 shares during the period. 54.73% of the stock is owned by institutional investors.
Shares of Consolidated Edison Inc. (NYSE:ED) traded up 0.33% on Tuesday, reaching $73.24. The company had a trading volume of 1,670,279 shares. Consolidated Edison Inc. has a 1-year low of $60.30 and a 1-year high of $81.88. The firm has a 50-day moving average price of $74.87 and a 200 day moving average price of $76.11. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 18.98 and a beta of 0.01.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same period in the previous year, the business posted $0.78 earnings per share. Equities research analysts predict that Consolidated Edison Inc. will post $3.97 earnings per share for the current year.
ED has been the subject of several research reports. BMO Capital Markets initiated coverage on Consolidated Edison in a research note on Wednesday, June 22nd. They set a “hold” rating and a $79.00 price objective for the company. Evercore ISI lowered Consolidated Edison from a “hold” rating to a “sell” rating and boosted their price objective for the stock from $69.50 to $72.50 in a research note on Wednesday, July 6th. Vetr upgraded Consolidated Edison from a “strong sell” rating to a “sell” rating and set a $70.50 price objective for the company in a research note on Tuesday, July 12th. Jefferies Group boosted their price objective on Consolidated Edison to $80.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Finally, Mizuho upped their price target on Consolidated Edison from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $74.47.
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) 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).
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.