Enterprise Financial Services Corp boosted its position in Consolidated Edison Inc (NYSE:ED) by 6.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,648 shares of the utilities provider’s stock after buying an additional 93 shares during the period. Enterprise Financial Services Corp’s holdings in Consolidated Edison were worth $133,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Consolidated Edison by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock worth $16,770,000 after buying an additional 8,002 shares during the period. Teachers Advisors LLC boosted its position in Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock worth $47,878,000 after buying an additional 83,824 shares during the period. Rockland Trust Co. boosted its position in Consolidated Edison by 3.3% in the first quarter. Rockland Trust Co. now owns 55,856 shares of the utilities provider’s stock worth $4,338,000 after buying an additional 1,799 shares during the period. Dai Ichi Life Insurance Company Ltd boosted its position in Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock worth $4,921,000 after buying an additional 8,918 shares during the period. Finally, Washington Trust Bank boosted its position in Consolidated Edison by 272.4% in the first quarter. Washington Trust Bank now owns 3,352 shares of the utilities provider’s stock worth $260,000 after buying an additional 2,452 shares during the period. Institutional investors own 55.82% of the company’s stock.
Consolidated Edison Inc (NYSE:ED) opened at 82.86 on Tuesday. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13. The stock has a market cap of $25.30 billion, a price-to-earnings ratio of 19.08 and a beta of 0.08. The company has a 50-day moving average price of $82.26 and a 200 day moving average price of $78.78.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the business posted $1.18 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post $4.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.33%. Consolidated Edison’s dividend payout ratio is currently 63.59%.
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Several analysts have recently issued reports on ED shares. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Friday, May 12th. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a research note on Friday, May 5th. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 price objective (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. Deutsche Bank AG increased their price objective on Consolidated Edison from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Finally, Jefferies Group LLC cut Consolidated Edison from a “buy” rating to a “hold” rating and reduced their price objective for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Six equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $76.82.
In other news, Director Linda S. Sanford acquired 900 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the acquisition, the director now directly owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 1,240 shares of company stock worth $100,090 in the last quarter. 0.20% of the stock is currently owned by company insiders.
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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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