1 week Ago By Defense World Staff
Orion Portfolio Solutions LLC lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED – Free Report) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The institutional investor owned 7,516 shares of the utilities provider’s stock after purchasing an additional 1,366 shares during the period. Orion Portfolio Solutions LLC’s holdings in Consolidated Edison were worth $671,000 at the end of the most recent reporting period. Several other hedge funds have also modified their holdings of the stock.
United Bank acquired a new stake in Consolidated Edison in the third quarter worth about $227,000. Janus Henderson Group PLC boosted its stake in shares of Consolidated Edison by 2.8% in the 3rd quarter.
Janus Henderson Group PLC now owns 54,440 shares of the utilities provider’s stock valued at $5,669,000 after purchasing an additional 1,500 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $872,000.
Royal London Asset Management Ltd. raised its stake in shares of Consolidated Edison by 3.3% during the third quarter.
Royal London Asset Management Ltd. now owns 142,600 shares of the utilities provider’s stock worth $14,849,000 after buying an additional 4,560 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Consolidated Edison by 42.
6% in the third quarter. Quantinno Capital Management LP now owns 43,941 shares of the utilities provider’s stock valued at $4,576,000 after buying an additional 13,124 shares during the period. 66.
29% of the stock is owned by institutional investors. Consolidated Edison Stock Down 2.8 %Shares of ED stock opened at $109.
53 on Monday. Consolidated Edison, Inc. has a 12-month low of $87.
28 and a 12-month high of $114.87. The company has a quick ratio of 0.
93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.
The firm has a fifty day moving average of $101.43 and a 200-day moving average of $98.70.
The company has a market capitalization of $39.45 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 3.
05 and a beta of 0.27. Consolidated Edison (NYSE:ED – Get Free Report) last released its earnings results on Thursday, February 20th.
The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.
01. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.
63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.
93%. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 5.
62 earnings per share for the current fiscal year. Consolidated Edison Increases DividendThe company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.
85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83.
The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.
10%. Consolidated Edison’s payout ratio is presently 64.89%.
Analyst Upgrades and DowngradesSeveral brokerages have commented on ED. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho increased their target price on Consolidated Edison from $92.
00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. UBS Group boosted their target price on Consolidated Edison from $110.
00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Scotiabank increased their price target on shares of Consolidated Edison from $100.
00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Finally, Barclays boosted their price objective on shares of Consolidated Edison from $92.
00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock.
According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.40.View Our Latest Analysis on EDConsolidated Edison Company Profile (Free Report)Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.
It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.
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