Regentatlantic Capital LLC lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,077 shares of the utilities provider’s stock after selling 4,328 shares during the quarter. Consolidated Edison makes up 0.9% of Regentatlantic Capital LLC’s portfolio, making the stock its 28th biggest position. Regentatlantic Capital LLC owned 0.05% of Consolidated Edison worth $12,196,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ED. Swiss National Bank grew its position in shares of Consolidated Edison by 4.1% in the 2nd quarter. Swiss National Bank now owns 2,279,371 shares of the utilities provider’s stock worth $177,745,000 after buying an additional 90,600 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Consolidated Edison by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 360,396 shares of the utilities provider’s stock worth $28,104,000 after buying an additional 9,220 shares during the last quarter. Summit Global Investments purchased a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $1,131,000. Verition Fund Management LLC purchased a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $936,000. Finally, Standard Life Aberdeen plc grew its position in shares of Consolidated Edison by 12.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 199,939 shares of the utilities provider’s stock worth $15,593,000 after buying an additional 22,794 shares during the last quarter. Institutional investors and hedge funds own 58.72% of the company’s stock.
ED has been the topic of a number of analyst reports. ValuEngine raised shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Morgan Stanley cut their price objective on shares of Consolidated Edison from $81.00 to $77.00 and set a “sell” rating on the stock in a research report on Friday, September 21st. Zacks Investment Research raised shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Howard Weil initiated coverage on shares of Consolidated Edison in a research report on Tuesday, July 24th. They issued a “sector underperform” rating on the stock. Finally, Bank of America lifted their price objective on shares of Consolidated Edison from $84.50 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $77.80.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.64 billion. Consolidated Edison had a net margin of 12.90% and a return on equity of 8.52%. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, equities research analysts expect that Consolidated Edison, Inc. will post 4.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Wednesday, November 14th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 3.77%. The ex-dividend date is Tuesday, November 13th. Consolidated Edison’s dividend payout ratio is presently 69.93%.
About Consolidated Edison
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 3.4 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 1,600 customers in parts of Manhattan.
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