DT Investment Partners LLC raised its stake in Consolidated Edison Inc (NYSE:ED) by 18.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,837 shares of the utilities provider’s stock after buying an additional 2,017 shares during the period. DT Investment Partners LLC’s holdings in Consolidated Edison were worth $1,038,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Consolidated Edison by 1,771.1% in the first quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock worth $1,871,955,000 after buying an additional 22,816,233 shares during the period. Vanguard Group Inc. boosted its stake in Consolidated Edison by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock valued at $1,654,504,000 after buying an additional 725,857 shares during the last quarter. State Street Corp boosted its stake in Consolidated Edison by 0.4% in the first quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock valued at $1,550,245,000 after buying an additional 77,044 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Consolidated Edison by 34.1% in the first quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock valued at $270,138,000 after buying an additional 884,788 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Consolidated Edison by 1.3% in the first quarter. APG Asset Management N.V. now owns 3,121,650 shares of the utilities provider’s stock worth $242,427,000 after buying an additional 39,537 shares in the last quarter. Institutional investors own 54.90% of the company’s stock.
Shares of Consolidated Edison Inc (ED) traded up 0.61% on Friday, reaching $83.53. 2,024,020 shares of the company were exchanged. The firm has a market capitalization of $25.53 billion, a PE ratio of 20.21 and a beta of 0.08. The company’s 50 day moving average is $82.08 and its 200 day moving average is $79.65. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the company earned $0.60 EPS. Analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The firm also recently disclosed 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. This represents a $2.76 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
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A number of brokerages have commented on ED. BMO Capital Markets restated a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a research note on Friday, May 5th. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. BidaskClub raised shares of Consolidated Edison from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and lowered their price target for the company from $88.00 to $83.50 in a report on Tuesday, June 13th. Finally, UBS AG raised their price target on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 15th. Five equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $76.96.
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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