LSV Asset Management decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 777,900 shares of the utilities provider’s stock after selling 18,900 shares during the period. LSV Asset Management’s holdings in Consolidated Edison were worth $66,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. WFG Advisors LP raised its position in Consolidated Edison by 19.6% in the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 214 shares during the last quarter. AllSquare Wealth Management LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at $113,000. Asset Dedication LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at $183,000. Round Table Services LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at $200,000. Finally, Tower Bridge Advisors purchased a new stake in Consolidated Edison in the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 56.02% of the company’s stock.
Consolidated Edison, Inc. (NYSE ED) opened at $77.96 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. The stock has a market cap of $24,172.96, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 9.13 and a beta of 0.03. Consolidated Edison, Inc. has a 12 month low of $72.63 and a 12 month high of $89.70.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.07). The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same period in the prior year, the firm posted $1.51 earnings per share. equities research analysts anticipate that Consolidated Edison, Inc. will post 4.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be paid a $0.715 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, February 13th. Consolidated Edison’s payout ratio is currently 69.00%.
Several analysts recently commented on the stock. UBS Group assumed coverage on shares of Consolidated Edison in a research report on Friday. They issued a “neutral” rating and a $80.00 price target for the company. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. assumed coverage on shares of Consolidated Edison in a research report on Friday, January 12th. They issued an “underweight” rating and a $78.00 price target for the company. Guggenheim reiterated a “hold” rating and issued a $88.00 price target on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $81.86.
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Consolidated Edison Company Profile
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).
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