Eastern Bank decreased its position in Consolidated Edison Inc (NYSE:ED) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,617 shares of the utilities provider’s stock after selling 250 shares during the period. Eastern Bank’s holdings in Consolidated Edison were worth $535,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. National Pension Service increased its stake in Consolidated Edison by 7.7% in the first quarter. National Pension Service now owns 253,981 shares of the utilities provider’s stock worth $19,744,000 after buying an additional 18,207 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Consolidated Edison by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 94,744 shares of the utilities provider’s stock worth $7,357,000 after buying an additional 1,350 shares during the last quarter. Forte Capital LLC ADV increased its position in shares of Consolidated Edison by 5.3% in the first quarter. Forte Capital LLC ADV now owns 8,189 shares of the utilities provider’s stock worth $636,000 after buying an additional 414 shares during the last quarter. Creative Planning increased its position in shares of Consolidated Edison by 2.0% in the first quarter. Creative Planning now owns 76,314 shares of the utilities provider’s stock worth $5,927,000 after buying an additional 1,473 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Consolidated Edison by 0.8% in the first quarter. Raymond James Trust N.A. now owns 26,402 shares of the utilities provider’s stock worth $2,050,000 after buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 54.90% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE ED) opened at 83.02 on Friday. The company has a 50-day moving average price of $82.00 and a 200-day moving average price of $79.57. The company has a market cap of $25.38 billion, a P/E ratio of 20.09 and a beta of 0.08. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company earned $0.60 EPS. On average, analysts predict that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s payout ratio is 66.67%.
ILLEGAL ACTIVITY WARNING: This article was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://stocknewstimes.com/2017/08/18/consolidated-edison-inc-nyseed-shares-sold-by-eastern-bank-updated-updated.html.
A number of analysts have issued reports on ED shares. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Friday, May 26th. BidaskClub lowered Consolidated Edison from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. 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 note 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 note on Monday, May 15th. Finally, Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and decreased their price target for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $76.96.
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).
Receive News & Ratings for Consolidated Edison Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison Inc and related companies with MarketBeat.com's FREE daily email newsletter.
