361 Capital LLC reduced its stake in shares of Consolidated Edison Inc (NYSE:ED) by 49.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,432 shares of the utilities provider’s stock after selling 10,252 shares during the period. 361 Capital LLC’s holdings in Consolidated Edison were worth $842,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ED. Janus Henderson Group PLC grew its holdings in Consolidated Edison by 6,358.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,300,677 shares of the utilities provider’s stock worth $185,940,000 after acquiring an additional 2,265,053 shares during the period. APG Asset Management N.V. grew its holdings in Consolidated Edison by 38.2% during the 3rd quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock worth $327,202,000 after acquiring an additional 1,121,200 shares during the period. Vanguard Group Inc. grew its holdings in Consolidated Edison by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock worth $1,763,600,000 after acquiring an additional 516,860 shares during the period. Balyasny Asset Management LLC grew its holdings in Consolidated Edison by 5,924.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 523,427 shares of the utilities provider’s stock worth $42,303,000 after acquiring an additional 514,739 shares during the period. Finally, BlackRock Inc. grew its holdings in Consolidated Edison by 1.8% during the 2nd quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock worth $1,983,672,000 after acquiring an additional 439,840 shares during the period. 55.48% of the stock is owned by institutional investors and hedge funds.
ED has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Monday, September 11th. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Jefferies Group LLC reiterated a “hold” rating and set a $83.50 price target on shares of Consolidated Edison in a report on Thursday, August 31st. Finally, BidaskClub upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Consolidated Edison presently has an average rating of “Hold” and an average target price of $80.32.
In related news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the transaction, the chief executive officer now owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders purchased 183 shares of company stock worth $15,248. 0.20% of the stock is owned by insiders.
Shares of Consolidated Edison Inc (NYSE:ED) traded down $0.83 during midday trading on Monday, reaching $86.53. 3,068,900 shares of the company traded hands, compared to its average volume of 1,506,064. Consolidated Edison Inc has a twelve month low of $68.85 and a twelve month high of $89.58. The company has a market cap of $26,830.00, a PE ratio of 21.58, a price-to-earnings-growth ratio of 7.05 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business posted $1.51 EPS. equities analysts predict that Consolidated Edison Inc will post 4.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.69 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.19%. Consolidated Edison’s payout ratio is 69.17%.
About Consolidated Edison
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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