Louisiana State Employees Retirement System boosted its position in Consolidated Edison Inc. (NYSE:ED) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Consolidated Edison were worth $1,609,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Albion Financial Group UT increased its stake in Consolidated Edison by 2.9% in the second quarter. Albion Financial Group UT now owns 60,727 shares of the company’s stock worth $4,885,000 after buying an additional 1,718 shares in the last quarter. Round Table Services LLC increased its stake in shares of Consolidated Edison by 0.4% in the second quarter. Round Table Services LLC now owns 3,814 shares of the company’s stock worth $307,000 after buying an additional 14 shares during the period. Bank of Montreal Can bought a new stake in shares of Consolidated Edison during the second quarter worth about $48,767,000. MSI Financial Services Inc increased its stake in shares of Consolidated Edison by 30.4% in the second quarter. MSI Financial Services Inc now owns 74,338 shares of the company’s stock worth $5,980,000 after buying an additional 17,314 shares during the period. Finally, Financial Architects Inc increased its stake in shares of Consolidated Edison by 76.9% in the second quarter. Financial Architects Inc now owns 5,455 shares of the company’s stock worth $439,000 after buying an additional 2,372 shares during the period. Institutional investors own 54.76% of the company’s stock.
Shares of Consolidated Edison Inc. (NYSE:ED) traded down 0.22% on Friday, reaching $78.68. The company had a trading volume of 1,239,138 shares. The stock has a market capitalization of $23.95 billion and a P/E ratio of 20.39. The company’s 50 day moving average price is $76.23 and its 200-day moving average price is $76.18. Consolidated Edison Inc. has a 1-year low of $60.30 and a 1-year high of $81.88.
Consolidated Edison (NYSE:ED) last released its earnings results 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 return on equity of 8.88% and a net margin of 9.47%. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities analysts predict that Consolidated Edison Inc. will post $3.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, August 15th. Consolidated Edison’s dividend payout ratio (DPR) is 69.25%.
ED has been the topic of a number of recent research reports. Zacks Investment Research upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Thursday, June 2nd. BMO Capital Markets initiated coverage on Consolidated Edison in a research report on Wednesday, June 22nd. They set a “hold” rating and a $79.00 price objective on the stock. Evercore ISI downgraded Consolidated Edison from a “hold” rating to a “sell” rating and upped their price objective for the company from $69.50 to $72.50 in a research report on Wednesday, July 6th. Vetr upgraded Consolidated Edison from a “strong sell” rating to a “sell” rating and set a $70.50 price objective on the stock in a research report on Tuesday, July 12th. Finally, Jefferies Group upped their price objective on Consolidated Edison to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $74.51.
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).
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