Americafirst Capital Management LLC Takes Position in Consolidated Edison Inc (ED)

Americafirst Capital Management LLC purchased a new position in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,421 shares of the utilities provider’s stock, valued at approximately $438,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Girard Partners LTD. lifted its position in shares of Consolidated Edison by 91.9% in the second quarter. Girard Partners LTD. now owns 5,578 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 2,671 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Consolidated Edison by 1.8% in the second quarter. PNC Financial Services Group Inc. now owns 560,190 shares of the utilities provider’s stock worth $45,274,000 after purchasing an additional 9,825 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Consolidated Edison by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 604,894 shares of the utilities provider’s stock worth $46,977,000 after purchasing an additional 15,382 shares in the last quarter. Dai Ichi Life Insurance Company Ltd lifted its position in shares of 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 purchasing an additional 8,918 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Consolidated Edison by 0.5% in the second quarter. Prudential Financial Inc. now owns 448,998 shares of the utilities provider’s stock worth $36,288,000 after purchasing an additional 2,322 shares in the last quarter. 55.06% of the stock is owned by institutional investors and hedge funds.

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Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective on the stock. in a research report on Tuesday, September 26th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.77.

In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the transaction, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders acquired 158 shares of company stock worth $13,022. Insiders own 0.20% of the company’s stock.

Shares of Consolidated Edison Inc (NYSE ED) traded up 0.19% during midday trading on Friday, hitting $83.69. 300,418 shares of the stock traded hands. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $86.16. The firm’s 50 day moving average price is $83.11 and its 200 day moving average price is $81.68. The company has a market capitalization of $25.58 billion, a PE ratio of 20.25 and a beta of 0.09.

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 analysts’ consensus estimates of $0.61 by ($0.03). Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the company earned $0.60 earnings per share. Analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Monday, August 14th. Consolidated Edison’s dividend payout ratio is 66.67%.

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).

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

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