Highstreet Asset Management Inc. grew its position in Consolidated Edison Inc (NYSE:ED) by 97.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,991 shares of the utilities provider’s stock after buying an additional 7,403 shares during the period. Highstreet Asset Management Inc.’s holdings in Consolidated Edison were worth $1,209,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of ED. Korea Investment CORP boosted its position in shares of Consolidated Edison by 6.5% during the 3rd quarter. Korea Investment CORP now owns 83,029 shares of the utilities provider’s stock worth $6,699,000 after purchasing an additional 5,100 shares during the period. Aperio Group LLC boosted its position in shares of Consolidated Edison by 4.8% during the 3rd quarter. Aperio Group LLC now owns 672,322 shares of the utilities provider’s stock worth $54,243,000 after purchasing an additional 30,768 shares during the period. Huntington National Bank boosted its position in shares of Consolidated Edison by 27.2% during the 3rd quarter. Huntington National Bank now owns 40,880 shares of the utilities provider’s stock worth $3,299,000 after purchasing an additional 8,748 shares during the period. TIAA FSB boosted its position in shares of Consolidated Edison by 17.1% during the 3rd quarter. TIAA FSB now owns 34,723 shares of the utilities provider’s stock worth $2,801,000 after purchasing an additional 5,080 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Consolidated Edison by 3.7% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 25,262 shares of the utilities provider’s stock worth $2,038,000 after purchasing an additional 902 shares during the period. 55.30% of the stock is owned by institutional investors and hedge funds.
Shares of Consolidated Edison Inc (ED) traded up $1.12 during midday trading on Tuesday, hitting $88.31. 1,370,100 shares of the company traded hands, compared to its average volume of 1,493,432. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $88.66. The firm has a market capitalization of $27,320.00, a PE ratio of 21.74, a price-to-earnings-growth ratio of 7.08 and a beta of 0.10.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same quarter last year, the business earned $1.51 EPS. research analysts forecast that Consolidated Edison Inc will post 4.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s payout ratio is currently 69.17%.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of Consolidated Edison stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the transaction, the chief executive officer now owns 24,017 shares in the company, valued at $2,014,305.79. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have acquired 183 shares of company stock valued at $15,248. 0.20% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday. Bank of America Corporation initiated coverage on shares of Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of Consolidated Edison in a 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 objective on the stock. in a report on Tuesday, September 26th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $79.63.
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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