3,467 Shares in Consolidated Edison, Inc. (ED) Purchased by Private Capital Group LLC

Private Capital Group LLC acquired a new stake in shares of Consolidated Edison, Inc. (NYSE:ED) during the first quarter, according to its most recent filing with the SEC. The fund acquired 3,467 shares of the utilities provider’s stock, valued at approximately $270,000.

Several other large investors also recently added to or reduced their stakes in ED. Wills Financial Group Inc. grew its position in Consolidated Edison by 13.8% during the first quarter. Wills Financial Group Inc. now owns 9,620 shares of the utilities provider’s stock worth $749,000 after buying an additional 1,170 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $8,150,000. Renaissance Technologies LLC grew its position in Consolidated Edison by 40.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,099,400 shares of the utilities provider’s stock worth $178,344,000 after buying an additional 607,000 shares in the last quarter. American International Group Inc. grew its position in Consolidated Edison by 15.0% during the fourth quarter. American International Group Inc. now owns 106,202 shares of the utilities provider’s stock worth $9,022,000 after buying an additional 13,829 shares in the last quarter. Finally, Sei Investments Co. grew its position in Consolidated Edison by 2.3% during the fourth quarter. Sei Investments Co. now owns 98,672 shares of the utilities provider’s stock worth $8,381,000 after buying an additional 2,197 shares in the last quarter. Institutional investors own 57.05% of the company’s stock.

Consolidated Edison opened at $75.03 on Thursday, according to MarketBeat Ratings. Consolidated Edison, Inc. has a 12-month low of $71.12 and a 12-month high of $89.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.61. The stock has a market capitalization of $23.26 billion, a PE ratio of 18.34, a PEG ratio of 4.40 and a beta of 0.06.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. Consolidated Edison had a return on equity of 8.61% and a net margin of 12.86%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the business earned $1.27 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. equities research analysts expect that Consolidated Edison, Inc. will post 4.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Wednesday, May 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Tuesday, May 15th. Consolidated Edison’s payout ratio is currently 69.93%.

Several research firms recently commented on ED. Morgan Stanley reduced their target price on Consolidated Edison from $75.00 to $71.00 and set an “underweight” rating for the company in a research report on Wednesday, June 13th. ValuEngine cut Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Zacks Investment Research upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Consolidated Edison from $75.00 to $78.00 and gave the stock a “sell” rating in a research report on Tuesday, April 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $81.94.

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

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