Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,550 shares of the utilities provider’s stock after purchasing an additional 2,454 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Consolidated Edison were worth $8,795,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of ED. G&S Capital LLC purchased a new position in Consolidated Edison during the 4th quarter valued at approximately $281,000. Teachers Advisors LLC grew its holdings in Consolidated Edison by 6.7% during the 4th quarter. Teachers Advisors LLC now owns 712,300 shares of the utilities provider’s stock valued at $60,510,000 after buying an additional 44,800 shares in the last quarter. California State Teachers Retirement System grew its holdings in Consolidated Edison by 14.0% during the 4th quarter. California State Teachers Retirement System now owns 651,468 shares of the utilities provider’s stock valued at $55,342,000 after buying an additional 80,048 shares in the last quarter. QS Investors LLC grew its holdings in Consolidated Edison by 14.9% during the 4th quarter. QS Investors LLC now owns 145,443 shares of the utilities provider’s stock valued at $12,355,000 after buying an additional 18,846 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in Consolidated Edison by 3.7% during the 4th quarter. Advisor Group Inc. now owns 42,803 shares of the utilities provider’s stock valued at $3,640,000 after buying an additional 1,523 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on ED shares. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. started coverage on Consolidated Edison in a report on Friday, January 12th. They set an “underweight” rating and a $78.00 price target for the company. ValuEngine cut Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. UBS started coverage on Consolidated Edison in a report on Friday, February 2nd. They set a “neutral” rating and a $80.00 price target for the company. Finally, Morgan Stanley cut their price target on Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, February 13th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Consolidated Edison presently has an average rating of “Hold” and an average target price of $81.32.
Shares of Consolidated Edison, Inc. (ED) traded up $0.27 during trading on Friday, hitting $77.03. The stock had a trading volume of 242,964 shares, compared to its average volume of 2,230,183. The stock has a market cap of $23,798.14, a PE ratio of 15.54, a price-to-earnings-growth ratio of 4.49 and a beta of 0.10. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. Consolidated Edison, Inc. has a 12-month low of $73.73 and a 12-month high of $89.70.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Consolidated Edison had a return on equity of 8.51% and a net margin of 12.67%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. equities analysts expect that Consolidated Edison, Inc. will post 4.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th were issued a $0.715 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date was Tuesday, February 13th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.71%. Consolidated Edison’s payout ratio is 57.89%.
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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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