Nisa Investment Advisors LLC reduced its stake in Consolidated Edison Inc (NYSE:ED) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,814 shares of the utilities provider’s stock after selling 9,246 shares during the period. Nisa Investment Advisors LLC owned approximately 0.08% of Consolidated Edison worth $19,456,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Quadrature Capital Ltd boosted its stake in shares of Consolidated Edison by 72.9% in the fourth quarter. Quadrature Capital Ltd now owns 30,356 shares of the utilities provider’s stock valued at $2,237,000 after buying an additional 12,795 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Consolidated Edison by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,379,950 shares of the utilities provider’s stock valued at $101,675,000 after buying an additional 10,379 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock valued at $47,878,000 after buying an additional 83,824 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at $1,629,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at $727,000. 55.88% of the stock is owned by hedge funds and other institutional investors.
Consolidated Edison Inc (NYSE:ED) opened at 82.265 on Friday. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 18.946 and a beta of 0.08. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $85.13. The firm’s 50-day moving average is $82.45 and its 200-day moving average is $78.29.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.05 billion. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. During the same quarter in the previous year, the firm earned $1.18 EPS. On average, equities analysts anticipate that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.35%. Consolidated Edison’s dividend payout ratio is presently 63.59%.
ED has been the subject of several research reports. Deutsche Bank AG upped their price target on shares of Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Barclays PLC reaffirmed an “equal weight” rating and issued a $82.00 price target (up previously from $76.00) on shares of Consolidated Edison in a research report on Sunday, April 23rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price target on shares of Consolidated Edison in a research report on Friday, May 5th. UBS AG upped their price target on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a research report on Monday, May 8th. Finally, Morgan Stanley boosted their price objective on shares of Consolidated Edison from $77.00 to $78.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Consolidated Edison presently has an average rating of “Hold” and an average price target of $76.82.
In related news, Director Linda S. Sanford acquired 900 shares of Consolidated Edison stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the transaction, the director now owns 8,748 shares of the company’s stock, valued at $697,565.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 1,240 shares of company stock valued at $100,090 in the last 90 days. Insiders own 0.20% of the company’s stock.
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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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