NN Investment Partners Holdings N.V. Raises Stake in Consolidated Edison Inc (ED)
NN Investment Partners Holdings N.V. boosted its position in Consolidated Edison Inc (NYSE:ED) by 51.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,503 shares of the utilities provider’s stock after buying an additional 5,270 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Consolidated Edison were worth $1,253,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in Consolidated Edison by 72.9% in the fourth quarter. Quadrature Capital Ltd now owns 30,356 shares of the utilities provider’s stock worth $2,237,000 after buying an additional 12,795 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Consolidated Edison by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,379,950 shares of the utilities provider’s stock worth $101,675,000 after buying an additional 10,379 shares in the last quarter. Teachers Advisors LLC increased its position in Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock worth $47,878,000 after buying an additional 83,824 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Consolidated Edison during the fourth quarter worth approximately $1,629,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Consolidated Edison during the fourth quarter worth approximately $727,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.
Consolidated Edison Inc (NYSE:ED) opened at 82.93 on Friday. The firm has a market cap of $25.33 billion, a P/E ratio of 19.10 and a beta of 0.08. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13. The firm’s 50-day moving average price is $82.45 and its 200 day moving average price is $78.29.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.08. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the prior year, the business posted $1.18 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.59%.
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A number of equities analysts recently commented on ED shares. Deutsche Bank AG increased their price objective on Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Barclays PLC restated an “equal weight” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Consolidated Edison in a report on Sunday, April 23rd. BMO Capital Markets restated a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a report on Friday, May 5th. UBS AG increased their price objective on Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, May 8th. Finally, Morgan Stanley increased their price objective on Consolidated Edison from $77.00 to $78.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Seven research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Consolidated Edison has an average rating of “Hold” and an average target price of $76.82.
In related news, Director Linda S. Sanford acquired 900 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the purchase, the director now directly owns 8,748 shares in the company, valued at approximately $697,565.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have bought 1,240 shares of company stock worth $100,090. Company insiders own 0.20% of the company’s stock.
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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