Payden & Rygel held its position in Consolidated Edison Inc (NYSE:ED) during the first quarter, Holdings Channel reports. The fund owned 87,000 shares of the utilities provider’s stock at the end of the first quarter. Payden & Rygel’s holdings in Consolidated Edison were worth $6,756,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ED. Stuart Chaussee & Associates Inc. raised its position in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock valued at $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 $118,000. Enterprise Financial Services Corp raised 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. Atwood & Palmer Inc. raised 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. Finally, Pacific Center for Financial Services acquired a new position in Consolidated Edison during the fourth quarter valued at $147,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Consolidated Edison Inc (NYSE ED) opened at 84.96 on Wednesday. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13. The firm has a market cap of $25.95 billion, a price-to-earnings ratio of 19.57 and a beta of 0.08. The stock’s 50 day moving average price is $81.60 and its 200-day moving average price is $76.94.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.05 billion. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. During the same quarter in the previous year, the business earned $1.18 earnings per share. Analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 17th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, May 15th. Consolidated Edison’s dividend payout ratio is currently 63.59%.
Several research analysts recently weighed in on the company. BMO Capital Markets reissued a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a research report on Friday, May 5th. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Deutsche Bank AG upped their target price on Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Jefferies Group LLC dropped their target price on Consolidated Edison from $82.50 to $81.50 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $82.00 target price (up from $76.00) on shares of Consolidated Edison in a research report on Sunday, April 23rd. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $76.96.
In other Consolidated Edison news, Director Linda S. Sanford purchased 900 shares of the stock in a transaction on Wednesday, May 17th. The shares were purchased at an average price of $79.74 per share, with a total value of $71,766.00. Following the completion of the transaction, the director now directly owns 8,748 shares in the company, valued at $697,565.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders purchased 954 shares of company stock worth $76,036. 0.20% of the stock is owned by company insiders.
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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