Tompkins Financial Corp Acquires Shares of 1,535 Consolidated Edison, Inc. (ED)

Tompkins Financial Corp acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,535 shares of the utilities provider’s stock, valued at approximately $118,000.

Several other institutional investors also recently made changes to their positions in the stock. Grimes & Company Inc. boosted its position in shares of Consolidated Edison by 6.6% in the third quarter. Grimes & Company Inc. now owns 4,103 shares of the utilities provider’s stock valued at $309,000 after buying an additional 253 shares during the last quarter. Conning Inc. boosted its stake in Consolidated Edison by 4.7% in the third quarter. Conning Inc. now owns 7,498 shares of the utilities provider’s stock valued at $565,000 after buying an additional 340 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Consolidated Edison by 6.1% in the third quarter. State of Alaska Department of Revenue now owns 43,089 shares of the utilities provider’s stock valued at $3,244,000 after buying an additional 2,484 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in Consolidated Edison by 2.0% in the third quarter. Joel Isaacson & Co. LLC now owns 10,492 shares of the utilities provider’s stock valued at $790,000 after buying an additional 207 shares during the last quarter. Finally, Exane Derivatives boosted its stake in Consolidated Edison by 59.0% in the third quarter. Exane Derivatives now owns 13,304 shares of the utilities provider’s stock valued at $1,002,000 after buying an additional 4,939 shares during the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Consolidated Edison, Inc. (NYSE:ED) traded down 0.28% on Wednesday, hitting $78.87. The stock had a trading volume of 183,939 shares. The company has a market cap of $24.06 billion, a price-to-earnings ratio of 19.14 and a beta of 0.02. The company’s 50 day moving average price is $77.44 and its 200-day moving average price is $74.08. Consolidated Edison, Inc. has a 12-month low of $68.76 and a 12-month high of $81.88.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 16th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. Consolidated Edison had a return on equity of 8.94% and a net margin of 10.06%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that Consolidated Edison, Inc. will post $4.08 EPS for the current year.

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ED has been the subject of several recent analyst reports. Royal Bank of Canada restated a “hold” rating and set a $77.00 target price on shares of Consolidated Edison in a research note on Wednesday, January 4th. Zacks Investment Research cut Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Credit Suisse Group AG assumed coverage on Consolidated Edison in a research note on Wednesday, January 25th. They issued an “underperform” rating and a $68.00 price objective for the company. Barclays PLC set a $76.00 price objective on Consolidated Edison and gave the company a “hold” rating in a research note on Saturday, February 18th. Finally, Jefferies Group LLC reduced their price objective on Consolidated Edison from $82.50 to $81.50 and set a “buy” rating for the company in a research note on Tuesday, February 21st. Four 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. The company has an average rating of “Hold” and an average target price of $74.13.

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).

5 Day Chart for NYSE:ED

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