Traders Sell Consolidated Edison (ED) on Strength (ED)

Investors sold shares of Consolidated Edison, Inc. (NYSE:ED) on strength during trading hours on Friday. $11.21 million flowed into the stock on the tick-up and $66.82 million flowed out of the stock on the tick-down, for a money net flow of $55.61 million out of the stock. Of all companies tracked, Consolidated Edison had the 22nd highest net out-flow for the day. Consolidated Edison traded up $0.43 for the day and closed at $88.92

A number of research firms recently commented on ED. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, November 14th. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Bank of America assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target on the stock. KeyCorp restated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Finally, Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price target on the stock. in a research report on Tuesday, September 26th. Five investment 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. The company presently has an average rating of “Hold” and an average price target of $80.32.

The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. The firm has a market capitalization of $27,570.00, a P/E ratio of 22.06, a P/E/G ratio of 7.21 and a beta of 0.10.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business posted $1.51 EPS. sell-side analysts anticipate that Consolidated Edison, Inc. will post 4.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio is 69.17%.

A number of institutional investors have recently bought and sold shares of the stock. Fiera Capital Corp boosted its stake in shares of Consolidated Edison by 0.3% during the 2nd quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock valued at $395,000 after buying an additional 13 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Consolidated Edison by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock valued at $257,000 after buying an additional 18 shares during the period. United Asset Strategies Inc. boosted its stake in shares of Consolidated Edison by 0.3% during the 2nd quarter. United Asset Strategies Inc. now owns 6,749 shares of the utilities provider’s stock valued at $545,000 after buying an additional 21 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Consolidated Edison by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,688 shares of the utilities provider’s stock valued at $1,834,000 after buying an additional 59 shares during the period. Finally, WASHINGTON TRUST Co boosted its stake in shares of Consolidated Edison by 1.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 6,513 shares of the utilities provider’s stock valued at $526,000 after buying an additional 85 shares during the period. 55.69% of the stock is owned by hedge funds and other institutional investors.

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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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