Chicago Equity Partners LLC Takes Position in Consolidated Edison Inc (ED)

Chicago Equity Partners LLC bought a new position in Consolidated Edison Inc (NYSE:ED) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 2,620 shares of the utilities provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Armbruster Capital Management Inc. increased its position in shares of Consolidated Edison by 127.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 700 shares during the last quarter. WFG Advisors LP increased its position in shares of Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 214 shares during the last quarter. Oakworth Capital Inc. increased its position in shares of Consolidated Edison by 10.5% during the 2nd quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 137 shares during the last quarter. Enterprise Financial Services Corp increased its position in shares of Consolidated Edison by 6.0% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 93 shares during the last quarter. Finally, Cypress Capital Management LLC WY increased its position in shares of Consolidated Edison by 491.7% during the 2nd quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 1,475 shares during the last quarter. 55.48% of the stock is owned by institutional investors and hedge funds.

Shares of Consolidated Edison Inc (NYSE:ED) opened at $86.53 on Monday. The firm has a market capitalization of $26,830.25, a P/E ratio of 21.58, a P/E/G ratio of 7.05 and a beta of 0.10. Consolidated Edison Inc has a 52 week low of $68.85 and a 52 week high of $89.58. 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 posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.07). The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. During the same quarter in the previous year, the firm earned $1.51 EPS. analysts forecast that Consolidated Edison Inc will post 4.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s payout ratio is 69.00%.

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A number of analysts recently issued reports on ED shares. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Monday, October 2nd. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Bank of America Corporation initiated coverage on Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 target price for the company. Finally, ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.32.

In related news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the sale, the chief executive officer now owns 24,017 shares in the company, valued at $2,014,305.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 183 shares of company stock valued at $15,248. 0.20% of the stock is owned by company insiders.

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).

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

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