Mizuho Securities USA LLC decreased its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,741 shares of the utilities provider's stock after selling 5,091 shares during the period. Mizuho Securities USA LLC's holdings in Consolidated Edison were worth $3,068,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Consolidated Edison during the first quarter worth approximately $32,000. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth $33,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 120 shares during the period. Elite Financial Inc. acquired a new position in shares of Consolidated Edison during the 1st quarter valued at $38,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Consolidated Edison during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 66.29% of the company's stock.
Consolidated Edison Price Performance
ED opened at $104.55 on Monday. The company has a fifty day simple moving average of $101.66 and a 200 day simple moving average of $103.26. The firm has a market cap of $37.71 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 3.33 and a beta of 0.24. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.
Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period last year, the business earned $0.59 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio is 62.85%.
Analyst Ratings Changes
Several research firms recently weighed in on ED. Morgan Stanley reduced their target price on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Barclays lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Finally, Mizuho lifted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and a consensus price target of $105.20.
View Our Latest Analysis on Consolidated Edison
Consolidated Edison Profile
(
Free Report)
Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.
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