Symons Capital Management Inc. Has $7.58 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Symons Capital Management Inc. reduced its holdings in Consolidated Edison, Inc. (NYSE:ED) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,190 shares of the utilities provider’s stock after selling 9,072 shares during the quarter. Consolidated Edison accounts for about 3.5% of Symons Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Symons Capital Management Inc.’s holdings in Consolidated Edison were worth $7,576,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Leavell Investment Management Inc. increased its holdings in shares of Consolidated Edison by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 3,470 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 110 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Consolidated Edison by 4.1% in the second quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 115 shares in the last quarter. Glenview State Bank Trust DEPT. increased its holdings in shares of Consolidated Edison by 4.1% in the third quarter. Glenview State Bank Trust DEPT. now owns 2,935 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 115 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of Consolidated Edison by 2.7% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock worth $384,000 after acquiring an additional 116 shares in the last quarter. Finally, 6 Meridian increased its holdings in shares of Consolidated Edison by 1.9% in the second quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock worth $552,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 59.80% of the company’s stock.

Shares of NYSE:ED traded up $0.70 during mid-day trading on Friday, reaching $87.92. 1,363,518 shares of the stock were exchanged, compared to its average volume of 1,794,438. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 1.01. The company has a market cap of $29.36 billion, a P/E ratio of 20.35, a P/E/G ratio of 10.23 and a beta of 0.04. Consolidated Edison, Inc. has a one year low of $73.29 and a one year high of $94.97. The stock’s 50 day simple moving average is $92.28 and its 200-day simple moving average is $88.68.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.04). The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.50 billion. Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. During the same quarter in the previous year, the business posted $1.57 earnings per share. Analysts anticipate that Consolidated Edison, Inc. will post 4.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.96 annualized dividend and a yield of 3.37%. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.

ED has been the subject of a number of research reports. Credit Suisse Group decreased their price objective on Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating for the company in a report on Tuesday, November 5th. Bank of America increased their price objective on Consolidated Edison from $99.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, October 28th. KeyCorp increased their price objective on Consolidated Edison from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. UBS Group increased their price objective on Consolidated Edison from $96.00 to $98.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Finally, Wells Fargo & Co decreased their price objective on Consolidated Edison from $95.00 to $94.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.51.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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