Blair William & Co. IL Raises Stake in Consolidated Edison Inc (ED)
Blair William & Co. IL boosted its position in Consolidated Edison Inc (NYSE:ED) by 133.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,149 shares of the utilities provider’s stock after buying an additional 13,250 shares during the period. Blair William & Co. IL’s holdings in Consolidated Edison were worth $1,871,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Consolidated Edison by 1,771.1% in the first quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock worth $1,871,955,000 after buying an additional 22,816,233 shares during the period. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock worth $1,654,504,000 after buying an additional 725,857 shares during the period. State Street Corp boosted its stake in shares of Consolidated Edison by 0.4% in the first quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock worth $1,550,245,000 after buying an additional 77,044 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Consolidated Edison by 34.1% in the first quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock worth $270,138,000 after buying an additional 884,788 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Consolidated Edison by 1.3% in the first quarter. APG Asset Management N.V. now owns 3,121,650 shares of the utilities provider’s stock worth $242,427,000 after buying an additional 39,537 shares during the period. Institutional investors and hedge funds own 54.90% of the company’s stock.
Consolidated Edison Inc (ED) opened at 84.48 on Friday. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $85.13. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 20.44 and a beta of 0.08. The firm’s 50 day moving average price is $82.53 and its 200-day moving average price is $80.00.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period last year, the business posted $0.60 EPS. Analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 66.67%.
ED has been the topic of a number of analyst reports. 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 report on Friday, May 12th. BMO Capital Markets reiterated a “hold” rating and set a $80.00 target price on shares of Consolidated Edison in a report on Friday, May 5th. Jefferies Group LLC cut Consolidated Edison from a “buy” rating to a “hold” rating and lowered their target price for the company from $88.00 to $83.50 in a report on Tuesday, June 13th. BidaskClub cut Consolidated Edison from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Morgan Stanley increased their target price on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.96.
In related news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the completion of the transaction, the chief executive officer now owns 24,017 shares of the company’s stock, valued at $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders purchased 392 shares of company stock valued at $32,600. 0.20% of the stock is owned by insiders.
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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