NEXT Financial Group Inc Buys 2,309 Shares of Consolidated Edison, Inc. (ED)

NEXT Financial Group Inc lifted its stake in Consolidated Edison, Inc. (NYSE:ED) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,342 shares of the utilities provider’s stock after purchasing an additional 2,309 shares during the period. NEXT Financial Group Inc’s holdings in Consolidated Edison were worth $1,728,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ED. Janus Henderson Group PLC boosted its holdings in Consolidated Edison by 6,358.2% in the second quarter. Janus Henderson Group PLC now owns 2,300,677 shares of the utilities provider’s stock valued at $185,940,000 after purchasing an additional 2,265,053 shares during the period. APG Asset Management N.V. lifted its holdings in Consolidated Edison by 38.2% during the 3rd quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock worth $327,202,000 after buying an additional 1,121,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Consolidated Edison by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock worth $1,763,600,000 after buying an additional 516,860 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in Consolidated Edison by 5,924.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 523,427 shares of the utilities provider’s stock worth $42,303,000 after buying an additional 514,739 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Consolidated Edison by 61.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,068,461 shares of the utilities provider’s stock worth $86,353,000 after buying an additional 408,446 shares during the last quarter. Hedge funds and other institutional investors own 55.50% of the company’s stock.

Consolidated Edison, Inc. (ED) traded down $0.47 during trading on Tuesday, hitting $79.02. The stock had a trading volume of 2,750,000 shares, compared to its average volume of 1,670,000. Consolidated Edison, Inc. has a fifty-two week low of $72.13 and a fifty-two week high of $89.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. The stock has a market cap of $24,500.00, a P/E ratio of 19.80, a P/E/G ratio of 9.32 and a beta of 0.10.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. sell-side analysts forecast that Consolidated Edison, Inc. will post 4.1 earnings per share for the current year.

ED has been the subject of a number of recent analyst reports. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Monday, October 2nd. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Bank of America initiated coverage on Consolidated Edison in a report on Tuesday, October 24th. They set a “buy” rating and a $92.00 price target for the company. Guggenheim reaffirmed a “hold” rating and set a $88.00 price target on shares of Consolidated Edison in a report on Wednesday, January 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $80.71.

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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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