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).
Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).
Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.