BLB&B Advisors LLC maintained its position in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,878 shares of the utilities provider’s stock at the end of the second quarter. BLB&B Advisors LLC’s holdings in Consolidated Edison were worth $224,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. increased its position in shares of Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares during the last quarter. Tompkins Financial Corp acquired a new position in Consolidated Edison during the first quarter valued at about $118,000. Enterprise Financial Services Corp boosted its position in Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock valued at $121,000 after buying an additional 38 shares during the last quarter. Cypress Capital Management LLC WY boosted its position in Consolidated Edison by 491.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after buying an additional 1,475 shares during the last quarter. Finally, Atwood & Palmer Inc. boosted its position in Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock valued at $141,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 55.82% of the company’s stock.
Shares of Consolidated Edison Inc (ED) traded down 0.38% on Friday, hitting $82.80. The stock had a trading volume of 1,396,138 shares. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13. The firm’s 50 day moving average is $82.24 and its 200-day moving average is $78.85. The stock has a market capitalization of $25.29 billion, a PE ratio of 19.07 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts expect that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be paid a $0.69 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.33%. Consolidated Edison’s dividend payout ratio is 63.59%.
Several research firms have recently issued reports on ED. BidaskClub cut Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC cut Consolidated Edison from a “buy” rating to a “hold” rating and decreased their target price for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, UBS AG upped their target price on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 15th. Six equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $76.82.
In other Consolidated Edison news, Director Linda S. Sanford acquired 900 shares of the company’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 completion of the purchase, the director now directly owns 8,748 shares of the company’s stock, valued at $697,565.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 1,319 shares of company stock worth $106,510 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.
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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