Payden & Rygel Has $6,756,000 Position in Consolidated Edison Inc (ED)

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.

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

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%.

ILLEGAL ACTIVITY NOTICE: “Payden & Rygel Has $6,756,000 Position in Consolidated Edison Inc (ED)” was reported by sleekmoney and is the property of of sleekmoney. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://sleekmoney.com/payden-rygel-has-6756000-position-in-consolidated-edison-inc-ed/1927549.html.

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).

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED).

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/payden-rygel-has-6756000-position-in-consolidated-edison-inc-ed/1927549.html

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.

 

Leave a Reply

Your email address will not be published. Required fields are marked *