500 Shares in Consolidated Edison, Inc. (NYSE:ED) Bought by Isthmus Partners LLC

Isthmus Partners LLC bought a new position in Consolidated Edison, Inc. (NYSE:ED) during the second quarter, according to its most recent filing with the SEC. The firm bought 500 shares of the utilities provider’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ED. Lazard Asset Management LLC raised its position in Consolidated Edison by 47.1% in the 1st quarter. Lazard Asset Management LLC now owns 9,199,814 shares of the utilities provider’s stock valued at $688,145,000 after buying an additional 2,946,774 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Consolidated Edison by 253.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,075,987 shares of the utilities provider’s stock valued at $155,284,000 after buying an additional 1,489,003 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Consolidated Edison by 63.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,464,155 shares of the utilities provider’s stock valued at $109,519,000 after buying an additional 570,791 shares during the last quarter. OLD Republic International Corp raised its position in Consolidated Edison by 92.8% in the 2nd quarter. OLD Republic International Corp now owns 895,286 shares of the utilities provider’s stock valued at $64,210,000 after buying an additional 431,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Consolidated Edison by 34.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,488,373 shares of the utilities provider’s stock valued at $111,329,000 after buying an additional 383,954 shares during the last quarter. Institutional investors own 60.91% of the company’s stock.

ED stock opened at $73.66 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.85 and a current ratio of 0.92. The company has a market capitalization of $26.03 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 8.87 and a beta of 0.17. Consolidated Edison, Inc. has a fifty-two week low of $65.56 and a fifty-two week high of $83.92. The stock has a fifty day moving average of $75.20 and a 200-day moving average of $75.17.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 5th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.09). Consolidated Edison had a return on equity of 7.39% and a net margin of 8.65%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.82 billion. Equities analysts predict that Consolidated Edison, Inc. will post 4.21 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, August 18th were paid a $0.775 dividend. The ex-dividend date was Tuesday, August 17th. This represents a $3.10 annualized dividend and a yield of 4.21%. Consolidated Edison’s dividend payout ratio is currently 74.16%.

A number of equities research analysts recently commented on the company. Mizuho increased their price target on Consolidated Edison from $68.00 to $78.00 and gave the company a “neutral” rating in a research report on Monday, June 14th. Barclays raised their target price on Consolidated Edison from $69.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, May 25th. KeyCorp lowered Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $66.00 target price for the company. in a research report on Tuesday, July 20th. TheStreet lowered Consolidated Edison from a “b” rating to a “c+” rating in a research report on Tuesday, September 7th. Finally, Morgan Stanley raised their target price on Consolidated Edison from $72.00 to $76.00 and gave the company an “underweight” rating in a research report on Thursday, August 19th. Six analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Sell” and an average price target of $75.75.

About Consolidated Edison

Consolidated Edison, Inc operates as holding company, which through its subsidiaries engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc and Con Edison Transmission, Inc.

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

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