Laurel Wealth Advisors Inc. Has $4.15 Million Stake in Consolidated Edison Inc (ED)

Laurel Wealth Advisors Inc. reduced its position in shares of Consolidated Edison Inc (NYSE:ED) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,468 shares of the utilities provider’s stock after selling 2,852 shares during the period. Consolidated Edison accounts for approximately 1.6% of Laurel Wealth Advisors Inc.’s holdings, making the stock its 10th largest position. Laurel Wealth Advisors Inc.’s holdings in Consolidated Edison were worth $4,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Stuart Chaussee & Associates Inc. boosted its stake in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares during the last quarter. Tompkins Financial Corp bought a new position in shares of Consolidated Edison during the first quarter valued at $118,000. Enterprise Financial Services Corp boosted its position in shares of Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock valued at $121,000 after buying an additional 38 shares in the last quarter. Atwood & Palmer Inc. boosted its position in shares of Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock valued at $141,000 after buying an additional 1,200 shares in the last quarter. Finally, First Financial Corp IN boosted its position in shares of Consolidated Edison by 24.0% in the first quarter. First Financial Corp IN now owns 2,068 shares of the utilities provider’s stock valued at $161,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 55.61% of the company’s stock.

Shares of Consolidated Edison Inc (NYSE:ED) traded up 0.67% during midday trading on Tuesday, reaching $84.06. The company had a trading volume of 1,385,786 shares. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13. The company has a market capitalization of $25.67 billion, a PE ratio of 19.36 and a beta of 0.08. The company has a 50 day moving average of $82.18 and a 200 day moving average of $78.94.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.28%. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.

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Several equities analysts have weighed in on the company. UBS AG lifted their price objective on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 15th. BidaskClub upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and decreased their price target for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price target on shares of Consolidated Edison in a research note on Friday, May 5th. Five equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $76.82.

In related news, Director Linda S. Sanford acquired 900 shares of the stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $79.74 per share, for a total transaction of $71,766.00. Following the completion of the acquisition, the director now directly owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 1,319 shares of company stock valued at $106,510 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

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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