Andra AP fonden Has $31.61 Million Stake in Consolidated Edison Inc (ED)
Andra AP fonden raised its position in Consolidated Edison Inc (NYSE:ED) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,100 shares of the utilities provider’s stock after buying an additional 4,270 shares during the period. Consolidated Edison comprises approximately 0.8% of Andra AP fonden’s portfolio, making the stock its 8th largest position. Andra AP fonden owned 0.13% of Consolidated Edison worth $31,609,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Armbruster Capital Management Inc. increased its stake in Consolidated Edison by 127.3% in the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after buying an additional 700 shares during the last quarter. Stuart Chaussee & Associates Inc. increased its stake in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares during the last quarter. Oakworth Capital Inc. increased its stake in Consolidated Edison by 10.5% in the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after buying an additional 137 shares during the last quarter. Enterprise Financial Services Corp increased its stake in Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock worth $121,000 after buying an additional 38 shares during the last quarter. Finally, Atwood & Palmer Inc. increased its stake in Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock worth $141,000 after buying an additional 1,200 shares during the last quarter. 54.90% of the stock is currently owned by institutional investors.
Consolidated Edison Inc (ED) traded up 0.30% during midday trading on Friday, reaching $84.48. The company had a trading volume of 778,593 shares. The stock has a 50-day moving average price of $82.53 and a 200 day moving average price of $80.00. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13. The company has a market capitalization of $25.82 billion, a PE ratio of 20.44 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. Equities analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.27%. Consolidated Edison’s payout ratio is 66.67%.
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A number of equities research analysts have recently weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $80.00 target price on shares of Consolidated Edison in a research report on Friday, May 5th. Zacks Investment Research downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. BidaskClub upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Jefferies Group LLC downgraded Consolidated Edison from a “buy” rating to a “hold” rating and dropped their target price for the stock from $88.00 to $83.50 in a research report on Tuesday, June 13th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $76.96.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the company’s 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 sale, the chief executive officer now directly owns 24,017 shares in the company, valued at $2,014,305.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have acquired 392 shares of company stock valued at $32,600. 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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