Consolidated Edison, Inc. (ED) Shares Sold by Murphy Capital Management Inc.

Murphy Capital Management Inc. lowered its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the first quarter, HoldingsChannel.com reports. The firm owned 21,341 shares of the utilities provider’s stock after selling 527 shares during the period. Murphy Capital Management Inc.’s holdings in Consolidated Edison were worth $1,809,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Consolidated Edison by 2,195.8% during the fourth quarter. Millennium Management LLC now owns 1,142,312 shares of the utilities provider’s stock worth $87,341,000 after acquiring an additional 1,092,555 shares during the period. Raymond James & Associates boosted its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Raymond James & Associates now owns 165,079 shares of the utilities provider’s stock worth $12,622,000 after acquiring an additional 6,653 shares during the period. Vanguard Group Inc boosted its holdings in shares of Consolidated Edison by 1.5% during the third quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock worth $1,821,799,000 after acquiring an additional 356,339 shares during the period. Paloma Partners Management Co boosted its holdings in shares of Consolidated Edison by 581.8% during the third quarter. Paloma Partners Management Co now owns 10,035 shares of the utilities provider’s stock worth $765,000 after acquiring an additional 12,118 shares during the period. Finally, Man Group plc boosted its holdings in shares of Consolidated Edison by 10.6% during the third quarter. Man Group plc now owns 177,540 shares of the utilities provider’s stock worth $13,528,000 after acquiring an additional 17,038 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

A number of research firms have recently weighed in on ED. Zacks Investment Research downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a research report on Friday, January 18th. Mizuho began coverage on shares of Consolidated Edison in a research report on Monday, March 11th. They issued a “neutral” rating and a $85.00 price target for the company. ValuEngine downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, Evercore ISI downgraded shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price target for the company. in a research report on Tuesday, February 12th. Five equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $77.34.

ED traded up $0.31 during trading on Thursday, hitting $84.18. 554,135 shares of the stock traded hands, compared to its average volume of 1,697,358. Consolidated Edison, Inc. has a twelve month low of $71.12 and a twelve month high of $85.87. The company has a market cap of $27.42 billion, a P/E ratio of 19.49, a P/E/G ratio of 9.65 and a beta of 0.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.62 and a quick ratio of 0.56.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 21st. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Consolidated Edison had a net margin of 11.20% and a return on equity of 8.42%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, analysts expect that Consolidated Edison, Inc. will post 4.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Wednesday, February 13th were given a dividend of $0.74 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 3.52%. The ex-dividend date was Tuesday, February 12th. Consolidated Edison’s payout ratio is currently 68.52%.

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Consolidated Edison Company 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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