Intersect Capital LLC trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,208 shares of the utilities provider’s stock after selling 387 shares during the quarter. Intersect Capital LLC’s holdings in Consolidated Edison were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ED. Securian Asset Management Inc raised its stake in Consolidated Edison by 4.4% during the 1st quarter. Securian Asset Management Inc now owns 32,893 shares of the utilities provider’s stock worth $2,790,000 after buying an additional 1,393 shares during the period. World Asset Management Inc increased its holdings in Consolidated Edison by 14.1% during the 1st quarter. World Asset Management Inc now owns 23,675 shares of the utilities provider’s stock worth $2,008,000 after purchasing an additional 2,919 shares in the last quarter. Krueger & Catalano Capital Partners LLC increased its holdings in Consolidated Edison by 24.0% during the 1st quarter. Krueger & Catalano Capital Partners LLC now owns 5,372 shares of the utilities provider’s stock worth $456,000 after purchasing an additional 1,038 shares in the last quarter. Bank of Montreal Can increased its holdings in Consolidated Edison by 5.9% during the 1st quarter. Bank of Montreal Can now owns 499,661 shares of the utilities provider’s stock worth $42,377,000 after purchasing an additional 28,016 shares in the last quarter. Finally, Private Capital Group LLC increased its holdings in Consolidated Edison by 25.6% during the 1st quarter. Private Capital Group LLC now owns 4,531 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 924 shares in the last quarter. 59.43% of the stock is currently owned by institutional investors.
A number of analysts have commented on ED shares. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Wednesday, February 13th. Bank of America raised Consolidated Edison from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $96.00 to $94.00 in a report on Friday. They noted that the move was a valuation call. Mizuho started coverage on Consolidated Edison in a report on Monday, March 11th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, Credit Suisse Group set a $80.00 price objective on Consolidated Edison and gave the stock a “sell” rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $78.42.
ED stock opened at $84.97 on Monday. The company has a market capitalization of $27.78 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 9.75 and a beta of 0.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.62 and a quick ratio of 0.56. Consolidated Edison, Inc. has a 12-month low of $71.12 and a 12-month high of $85.90.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 21st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.89 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 11.20%. Consolidated Edison’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. Analysts anticipate that Consolidated Edison, Inc. will post 4.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 68.52%.
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Consolidated Edison Company Profile
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,622 customers in parts of Manhattan.
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