Investors Purchase High Volume of Consolidated Edison Put Options (ED)

Consolidated Edison, Inc. (NYSE:ED) was the recipient of unusually large options trading on Monday. Stock investors bought 2,123 put options on the company. This represents an increase of 962% compared to the average daily volume of 200 put options.

A number of brokerages recently commented on ED. JPMorgan Chase & Co. began coverage on Consolidated Edison in a research note on Friday. They set an “underweight” rating and a $78.00 price objective for the company. Evercore ISI downgraded Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective for the company. in a research note on Tuesday, September 26th. Zacks Investment Research downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Guggenheim reissued a “hold” rating and issued a $88.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 3rd. Finally, ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $80.71.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Consolidated Edison by 1.8% during the second quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock valued at $1,983,672,000 after purchasing an additional 439,840 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 2.4% during the second quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock valued at $1,763,600,000 after purchasing an additional 516,860 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Consolidated Edison by 38.2% during the third quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock valued at $327,202,000 after purchasing an additional 1,121,200 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Consolidated Edison by 5.2% during the third quarter. Legal & General Group Plc now owns 2,930,589 shares of the utilities provider’s stock valued at $236,432,000 after purchasing an additional 144,652 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Consolidated Edison by 25.3% during the third quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock valued at $232,610,000 after purchasing an additional 582,457 shares during the last quarter. 55.50% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison (NYSE ED) opened at $79.49 on Friday. Consolidated Edison has a 52 week low of $72.13 and a 52 week high of $89.70. The firm has a market capitalization of $24,650.00, a PE ratio of 19.92, a P/E/G ratio of 9.60 and a beta of 0.10. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.

Consolidated Edison (NYSE:ED) last announced its 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 firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business earned $1.51 EPS. equities analysts forecast that Consolidated Edison will post 4.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were paid a dividend of $0.69 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.76 annualized dividend and a yield of 3.47%. Consolidated Edison’s dividend payout ratio is currently 69.17%.

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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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