Seeyond Boosts Stake in Consolidated Edison, Inc. (NYSE:ED)

Seeyond lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 33,598 shares of the utilities provider’s stock after purchasing an additional 150 shares during the quarter. Seeyond’s holdings in Consolidated Edison were worth $2,409,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kelly Lawrence W & Associates Inc. CA acquired a new position in Consolidated Edison during the first quarter worth $32,000. CSat Investment Advisory L.P. raised its holdings in Consolidated Edison by 49.1% during the first quarter. CSat Investment Advisory L.P. now owns 477 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 157 shares during the last quarter. Isthmus Partners LLC acquired a new position in Consolidated Edison during the second quarter worth $36,000. Axiom Investment Management LLC acquired a new position in Consolidated Edison during the first quarter worth $37,000. Finally, Wagner Wealth Management LLC acquired a new position in Consolidated Edison during the first quarter worth $38,000. Hedge funds and other institutional investors own 60.91% of the company’s stock.

ED has been the subject of several research reports. TheStreet cut Consolidated Edison from a “b” rating to a “c+” rating in a report on Tuesday, September 7th. KeyCorp cut Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $66.00 price target for the company. in a report on Tuesday, July 20th. Mizuho cut their price target on Consolidated Edison from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, October 7th. Finally, Morgan Stanley cut their price target on Consolidated Edison from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Friday, September 17th. Six investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $75.13.

Consolidated Edison stock traded up $0.19 during trading on Thursday, hitting $76.24. The company’s stock had a trading volume of 13,096 shares, compared to its average volume of 2,335,374. The stock has a market capitalization of $26.94 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 8.87 and a beta of 0.17. The stock’s fifty day moving average is $75.00 and its 200 day moving average is $75.56. Consolidated Edison, Inc. has a 1-year low of $65.56 and a 1-year high of $83.92. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.85 and a current ratio of 0.92.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 5th. The utilities provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.09). The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.82 billion. Consolidated Edison had a net margin of 8.65% and a return on equity of 7.39%. On average, research analysts anticipate that Consolidated Edison, Inc. will post 4.21 EPS for the current fiscal year.

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.

See Also: Is it better to buy a fund with a higher or lower NAV?

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

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

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.