Consolidated Edison Inc (NYSE:ED) Position Increased by Enterprise Financial Services Corp

Enterprise Financial Services Corp boosted its position in shares of Consolidated Edison Inc (NYSE:ED) by 6.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake 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 in the last quarter. Teachers Advisors LLC boosted its stake 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 stake 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 stake 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, Dimensional Fund Advisors LP boosted its stake in Consolidated Edison by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 604,894 shares of the utilities provider’s stock worth $46,977,000 after buying an additional 15,382 shares during the period. Institutional investors and hedge funds own 54.90% of the company’s stock.

Consolidated Edison Inc (ED) traded up 0.61% during trading on Friday, hitting $83.53. 2,024,020 shares of the stock traded hands. 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 $25.53 billion, a P/E ratio of 20.21 and a beta of 0.08. The firm’s 50-day moving average is $82.08 and its 200-day moving average is $79.65.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period in the previous year, the company posted $0.60 earnings per share. On average, analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s payout ratio is currently 66.67%.

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ED has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Friday, May 26th. BidaskClub cut shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 target price (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a research note on Monday, May 15th. Finally, Jefferies Group LLC cut shares of Consolidated Edison from a “buy” rating to a “hold” rating and lowered their target price for the stock 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 issued a hold rating to the company’s stock. Consolidated Edison currently has an average rating of “Hold” and an average price target 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).