Consolidated Edison Target of Unusually Large Options Trading (NYSE:ED)

Consolidated Edison, Inc. (NYSE:ED) was the target of some unusual options trading on Monday. Stock traders acquired 2,123 put options on the stock. This is an increase of 962% compared to the average volume of 200 put options.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Consolidated Edison by 1.8% during the second quarter. PNC Financial Services Group Inc. now owns 560,190 shares of the utilities provider’s stock valued at $45,274,000 after buying an additional 9,825 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Consolidated Edison by 5.6% during the third quarter. Parametric Portfolio Associates LLC now owns 1,109,470 shares of the utilities provider’s stock valued at $89,512,000 after buying an additional 59,098 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Consolidated Edison by 16.2% during the third quarter. Private Advisor Group LLC now owns 39,980 shares of the utilities provider’s stock valued at $3,257,000 after buying an additional 5,567 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Consolidated Edison by 25.3% during the third quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock valued at $232,610,000 after buying an additional 582,457 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Consolidated Edison by 129.8% during the second quarter. Lazard Asset Management LLC now owns 380,193 shares of the utilities provider’s stock valued at $30,726,000 after buying an additional 214,717 shares during the last quarter. 55.53% of the stock is currently owned by institutional investors.

Shares of Consolidated Edison (ED) traded down $0.79 during trading on Friday, reaching $77.96. The company’s stock had a trading volume of 2,618,518 shares, compared to its average volume of 1,960,000. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. Consolidated Edison has a 12-month low of $72.63 and a 12-month high of $89.70. The firm has a market capitalization of $24,170.00, a PE ratio of 19.54, a PEG ratio of 9.41 and a beta of 0.03.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business posted $1.51 EPS. analysts expect that Consolidated Edison 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 represents a $2.86 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s dividend payout ratio (DPR) is 69.17%.

Several research firms recently weighed in on ED. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, November 14th. ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Bank of America initiated coverage on Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 target price for the company. KeyCorp restated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Finally, Guggenheim restated a “hold” rating and set a $88.00 price objective on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $81.86.

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About Consolidated Edison

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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