Tredje AP fonden increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 314,600.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,147 shares of the utilities provider’s stock after buying an additional 3,146 shares during the period. Tredje AP fonden’s holdings in Consolidated Edison were worth $244,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in Consolidated Edison by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 2,219 shares of the utilities provider’s stock worth $163,000 after buying an additional 439 shares in the last quarter. GenTrust LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $210,000. RBO & Co. LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $221,000. Perennial Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $136,000. Finally, Elkfork Partners LLC acquired a new position in Consolidated Edison during the fourth quarter worth approximately $3,505,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE:ED) traded up 0.25% during trading on Tuesday, hitting $84.96. The stock had a trading volume of 90,727 shares. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.06. The stock has a 50 day moving average price of $81.43 and a 200-day moving average price of $76.83. The stock has a market capitalization of $25.95 billion, a price-to-earnings ratio of 19.57 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the business posted $1.18 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 17th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, May 15th. Consolidated Edison’s dividend payout ratio (DPR) is 63.59%.
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A number of research firms have commented on ED. BMO Capital Markets reissued a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a research note on Friday, May 5th. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Deutsche Bank AG boosted their price objective on Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Jefferies Group LLC reduced their price objective on Consolidated Edison from $82.50 to $81.50 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. Finally, Barclays PLC reissued an “equal weight” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $76.96.
In other news, Director Linda S. Sanford acquired 900 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $79.74 per share, with a total value of $71,766.00. Following the acquisition, the director now directly owns 8,748 shares in the company, valued at approximately $697,565.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 954 shares of company stock worth $76,036. 0.20% of the stock is currently owned by company insiders.
About Consolidated Edison
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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