Aspiriant LLC lowered its position in Consolidated Edison Inc (NYSE:ED) by 39.9% during the second quarter, Holdings Channel reports. The firm owned 2,601 shares of the utilities provider’s stock after selling 1,727 shares during the period. Aspiriant LLC’s holdings in Consolidated Edison were worth $210,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Armbruster Capital Management Inc. raised its stake in shares of Consolidated Edison by 127.3% in the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock valued at $101,000 after buying an additional 700 shares during the last quarter. Stuart Chaussee & Associates Inc. raised its stake in shares of Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock valued at $106,000 after buying an additional 795 shares during the last quarter. Oakworth Capital Inc. raised its stake in shares of Consolidated Edison by 10.5% in the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after buying an additional 137 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock valued at $121,000 after buying an additional 38 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its stake in shares of Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock valued at $141,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 54.90% of the company’s stock.

Consolidated Edison Inc (NYSE ED) opened at 83.02 on Friday. The stock has a 50 day moving average price of $82.00 and a 200 day moving average price of $79.57. Consolidated Edison Inc has a 12 month low of $68.76 and a 12 month high of $85.13. The stock has a market capitalization of $25.38 billion, a PE ratio of 20.09 and a beta of 0.08.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be issued a $0.69 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.32%. Consolidated Edison’s dividend payout ratio is currently 66.67%.

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Several analysts have issued reports on ED shares. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Thursday, May 18th. Deutsche Bank AG lowered Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a research note on Monday, May 8th. BMO Capital Markets restated a “hold” rating and issued a $80.00 target price on shares of Consolidated Edison in a research note on Monday, May 15th. Barclays PLC restated an “equal weight” rating and issued a $82.00 target price (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. Finally, Morgan Stanley boosted their target price on Consolidated Edison from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Five equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $76.96.

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

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