Kelly Lawrence W & Associates Inc. CA held its position in Consolidated Edison Inc (NYSE:ED) during the second quarter, Holdings Channel reports. The institutional investor owned 2,000 shares of the utilities provider’s stock at the end of the second quarter. Kelly Lawrence W & Associates Inc. CA’s holdings in Consolidated Edison were worth $162,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Vicus Capital raised its position in Consolidated Edison by 15.0% in the first quarter. Vicus Capital now owns 3,302 shares of the utilities provider’s stock valued at $256,000 after buying an additional 430 shares during the period. Washington Trust Bank raised its position in Consolidated Edison by 272.4% in the first quarter. Washington Trust Bank now owns 3,352 shares of the utilities provider’s stock valued at $260,000 after buying an additional 2,452 shares during the period. Pinnacle Bank acquired a new position in Consolidated Edison during the first quarter valued at $354,000. Peoples Financial Services CORP. raised its position in Consolidated Edison by 194.2% in the first quarter. Peoples Financial Services CORP. now owns 4,284 shares of the utilities provider’s stock valued at $333,000 after buying an additional 2,828 shares during the period. Finally, Doyle Wealth Management acquired a new position in Consolidated Edison during the first quarter valued at $373,000. Institutional investors own 55.61% of the company’s stock.
Consolidated Edison Inc (NYSE ED) opened at 83.26 on Thursday. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13. The firm has a 50 day moving average of $82.08 and a 200 day moving average of $79.18. The firm has a market capitalization of $25.43 billion, a PE ratio of 19.18 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period last year, the company earned $0.60 earnings per share. Equities analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be paid a $0.69 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.31%. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
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Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and reduced their price objective for the company from $88.00 to $83.50 in a research report on Tuesday, June 13th. Finally, Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $76.96.
In related news, Director Linda S. Sanford purchased 900 shares of the stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $79.74 per share, with a total value of $71,766.00. Following the purchase, the director now directly owns 8,748 shares in the company, valued at approximately $697,565.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 1,319 shares of company stock valued at $106,510. 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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