State Street Corp increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 4.5% during the fourth quarter, Holdings Channel reports. The fund owned 19,885,000 shares of the company’s stock after buying an additional 852,401 shares during the period. State Street Corp owned 0.07% of Consolidated Edison worth $1,465,139,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Symons Capital Management Inc. raised its stake in shares of Consolidated Edison by 0.5% in the fourth quarter. Symons Capital Management Inc. now owns 240,846 shares of the company’s stock worth $17,745,000 after buying an additional 1,116 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Consolidated Edison by 2.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,574 shares of the company’s stock worth $337,000 after buying an additional 101 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Consolidated Edison by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 462,702 shares of the company’s stock worth $34,092,000 after buying an additional 5,100 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Consolidated Edison by 4.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 98,944 shares of the company’s stock worth $7,290,000 after buying an additional 4,298 shares during the last quarter. Finally, Twin Capital Management Inc. raised its stake in shares of Consolidated Edison by 11.6% in the fourth quarter. Twin Capital Management Inc. now owns 14,730 shares of the company’s stock worth $1,085,000 after buying an additional 1,530 shares during the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.
Consolidated Edison Inc (NYSE:ED) opened at 74.29 on Friday. The firm’s 50-day moving average is $73.74 and its 200-day moving average is $73.99. The stock has a market capitalization of $22.64 billion, a P/E ratio of 18.30 and a beta of 0.02. Consolidated Edison Inc has a 12 month low of $68.44 and a 12 month high of $81.88.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 16th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm earned $2.71 billion during the quarter, compared to the consensus estimate of $2.74 billion. Consolidated Edison had a return on equity of 8.94% and a net margin of 10.06%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. On average, equities analysts expect that Consolidated Edison Inc will post $3.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.69 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Monday, February 13th. Consolidated Edison’s dividend payout ratio is currently 68.32%.
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A number of brokerages have recently weighed in on ED. Vetr lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a report on Tuesday, November 8th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Consolidated Edison in a research note on Friday, November 4th. RBC Capital Markets reaffirmed a “hold” rating and issued a $77.00 target price on shares of Consolidated Edison in a research note on Wednesday, January 4th. Credit Suisse Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, January 25th. They issued an “underperform” rating and a $68.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $74.25.
In other news, insider Craig S. Ivey sold 3,974 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $71.42, for a total transaction of $283,823.08. Following the completion of the transaction, the insider now directly owns 35,306 shares in the company, valued at approximately $2,521,554.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 415 shares of company stock valued at $29,737 over the last quarter. Corporate insiders own 0.16% 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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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