Consolidated Edison, Inc. (NYSE:ED) CFO Robert N. Hoglund purchased 151 shares of the business’s stock in a transaction dated Wednesday, March 31st. The stock was purchased at an average price of $74.80 per share, for a total transaction of $11,294.80. Following the completion of the acquisition, the chief financial officer now owns 42,669 shares of the company’s stock, valued at $3,191,641.20. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NYSE ED opened at $75.31 on Thursday. The business’s 50 day moving average price is $70.81 and its two-hundred day moving average price is $74.07. The company has a market cap of $25.79 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 7.80 and a beta of 0.11. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. Consolidated Edison, Inc. has a twelve month low of $65.56 and a twelve month high of $90.00.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Wednesday, February 17th. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.06 billion. Consolidated Edison had a return on equity of 7.77% and a net margin of 11.06%. During the same period last year, the firm earned $0.87 EPS. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 4.2 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of Consolidated Edison by 3.8% in the first quarter. FMR LLC now owns 181,081 shares of the utilities provider’s stock valued at $15,357,000 after purchasing an additional 6,640 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Consolidated Edison in the third quarter valued at approximately $358,000. Wealth Alliance grew its position in shares of Consolidated Edison by 4.5% in the third quarter. Wealth Alliance now owns 3,290 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 142 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Consolidated Edison by 8.3% in the third quarter. Allianz Asset Management GmbH now owns 104,096 shares of the utilities provider’s stock valued at $8,098,000 after purchasing an additional 7,952 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of Consolidated Edison by 28.0% in the third quarter. Segall Bryant & Hamill LLC now owns 7,476 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 1,636 shares during the last quarter. 62.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on ED shares. Credit Suisse Group restated an “underperform” rating and issued a $65.00 price target (down from $75.00) on shares of Consolidated Edison in a report on Monday, March 1st. Evercore ISI downgraded Consolidated Edison from an “in-line” rating to an “underperform” rating in a research report on Thursday, January 21st. TheStreet downgraded Consolidated Edison from a “b-” rating to a “c” rating in a research report on Monday, March 22nd. Morgan Stanley lifted their target price on Consolidated Edison from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Thursday, March 25th. Finally, Royal Bank of Canada lowered their target price on Consolidated Edison from $80.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, January 22nd. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $75.08.
About Consolidated Edison
Consolidated Edison, Inc, through its subsidiaries, engages in the 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 1,576 customers in parts of Manhattan.
Featured Article: FinTech
Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.