Americafirst Capital Management LLC purchased a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,421 shares of the utilities provider’s stock, valued at approximately $438,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Girard Partners LTD. lifted its position in shares of Consolidated Edison by 91.9% in the second quarter. Girard Partners LTD. now owns 5,578 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 2,671 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Consolidated Edison by 1.8% in the second quarter. PNC Financial Services Group Inc. now owns 560,190 shares of the utilities provider’s stock worth $45,274,000 after purchasing an additional 9,825 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Consolidated Edison by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 604,894 shares of the utilities provider’s stock worth $46,977,000 after purchasing an additional 15,382 shares in the last quarter. Dai Ichi Life Insurance Company Ltd lifted its position in shares of Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock worth $4,921,000 after purchasing an additional 8,918 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Consolidated Edison by 0.5% in the second quarter. Prudential Financial Inc. now owns 448,998 shares of the utilities provider’s stock worth $36,288,000 after purchasing an additional 2,322 shares in the last quarter. 55.06% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Americafirst Capital Management LLC Takes Position in Consolidated Edison Inc (ED)” was originally published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.themarketsdaily.com/2017/10/13/americafirst-capital-management-llc-takes-position-in-consolidated-edison-inc-ed.html.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective on the stock. in a research report on Tuesday, September 26th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.77.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the transaction, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders acquired 158 shares of company stock worth $13,022. Insiders own 0.20% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE ED) traded up 0.19% during midday trading on Friday, hitting $83.69. 300,418 shares of the stock traded hands. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $86.16. The firm’s 50 day moving average price is $83.11 and its 200 day moving average price is $81.68. The company has a market capitalization of $25.58 billion, a PE ratio of 20.25 and a beta of 0.09.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the company earned $0.60 earnings per share. Analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Monday, August 14th. Consolidated Edison’s dividend payout ratio is 66.67%.
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).
Receive News & Ratings for Consolidated Edison Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison Inc and related companies with MarketBeat.com's FREE daily email newsletter.