Consolidated Edison Inc (NYSE:ED) Stake Lowered by Billeaud Capital Management Inc.

Billeaud Capital Management Inc. cut its position in Consolidated Edison Inc (NYSE:ED) by 1.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 62,768 shares of the utilities provider’s stock after selling 876 shares during the period. Consolidated Edison comprises 3.2% of Billeaud Capital Management Inc.’s portfolio, making the stock its 11th largest position. Billeaud Capital Management Inc.’s holdings in Consolidated Edison were worth $5,072,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ED. Ameriprise Financial Inc. raised its position in Consolidated Edison by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock worth $16,770,000 after buying an additional 8,002 shares in the last quarter. Teachers Advisors LLC raised its position in Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock worth $47,878,000 after buying an additional 83,824 shares in the last quarter. Rockland Trust Co. raised its position in Consolidated Edison by 3.3% in the first quarter. Rockland Trust Co. now owns 55,856 shares of the utilities provider’s stock worth $4,338,000 after buying an additional 1,799 shares in the last quarter. Dai Ichi Life Insurance Company Ltd raised its position in Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock worth $4,921,000 after buying an additional 8,918 shares in the last quarter. Finally, Washington Trust Bank raised its position in Consolidated Edison by 272.4% in the first quarter. Washington Trust Bank now owns 3,352 shares of the utilities provider’s stock worth $260,000 after buying an additional 2,452 shares in the last quarter. 54.90% of the stock is currently owned by institutional investors.

Shares of Consolidated Edison Inc (NYSE:ED) opened at 83.44 on Thursday. The company has a market capitalization of $25.51 billion, a P/E ratio of 20.19 and a beta of 0.08. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $85.13. The firm has a 50-day moving average of $81.97 and a 200 day moving average of $79.55.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period in the previous year, the business posted $0.60 earnings per share. On average, analysts anticipate that Consolidated Edison Inc will post $4.09 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.31%. Consolidated Edison’s payout ratio is 66.67%.

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A number of research firms recently weighed in on ED. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a research note on Friday, May 5th. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. BidaskClub upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and reduced their price target for the company from $88.00 to $83.50 in a research report on Tuesday, June 13th. Finally, UBS AG boosted their price target on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research report on Monday, May 15th. Five analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $76.96.

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).

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

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