Alberta Investment Management Corp Reduces Position in Consolidated Edison, Inc. (NYSE:ED)
Alberta Investment Management Corp cut its position in shares of Consolidated Edison, Inc. (NYSE:ED – Free Report) by 76.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,157 shares of the utilities provider’s stock after selling 56,911 shares during the period. Alberta Investment Management Corp’s holdings in Consolidated Edison were worth $1,551,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ED. Roundview Capital LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth about $680,000. Dimensional Fund Advisors LP lifted its holdings in Consolidated Edison by 22.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,030,616 shares of the utilities provider’s stock valued at $97,579,000 after buying an additional 190,138 shares in the last quarter. Sei Investments Co. lifted its holdings in Consolidated Edison by 54.4% during the 1st quarter. Sei Investments Co. now owns 18,204 shares of the utilities provider’s stock valued at $1,693,000 after buying an additional 6,412 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Consolidated Edison by 1.3% during the 1st quarter. Cetera Investment Advisers now owns 19,489 shares of the utilities provider’s stock valued at $1,845,000 after buying an additional 254 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Consolidated Edison during the 1st quarter valued at about $214,000. 64.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Guggenheim decreased their price objective on shares of Consolidated Edison from $85.00 to $82.00 in a report on Monday, October 9th. Barclays decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Argus lowered their price target on shares of Consolidated Edison from $104.00 to $93.00 in a research report on Wednesday, October 4th. Wells Fargo & Company raised shares of Consolidated Edison from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $96.00 to $94.00 in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada lowered their price target on shares of Consolidated Edison from $97.00 to $92.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $88.08.
View Our Latest Research Report on Consolidated Edison
Consolidated Edison Trading Down 2.2 %
NYSE:ED opened at $89.85 on Friday. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.92. The firm has a 50 day moving average of $89.77 and a 200 day moving average of $90.54. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 9.39 and a beta of 0.38.
Consolidated Edison (NYSE:ED – Get Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.04. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Consolidated Edison had a net margin of 15.57% and a return on equity of 8.16%. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.01 earnings per share for the current fiscal year.
Consolidated Edison Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.61%. Consolidated Edison’s dividend payout ratio is currently 48.00%.
About Consolidated Edison (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 3.6 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.
Featured Stories
NYSE: ED” width=”650″ height=”350″ loading=”lazy”>
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Consolidated Edison, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Consolidated Edison wasn’t on the list.
While Consolidated Edison currently has a “Reduce” rating among analysts, top-rated analysts believe these five stocks are better buys.
If a company’s CEO, COO, and CFO were all selling shares of their stock, would you want to know?