Consolidated Edison (NYSE:ED) Posts Earnings Results, Beats Estimates By $0.02 EPS

Cornelia Mascio
Febbraio 25, 2018

The institutional investor bought 3,298 shares of the utilities provider's stock, valued at approximately $280,000.

Stock market investors may be closely tracking recent trends. IL now owns 416,247 shares of the utilities provider's stock worth $20,833,000 after buying an additional 278,822 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Consolidated Edison by 3.7% during the 3rd quarter. The company had a trading volume of 1,422,318 shares, compared to its average volume of 2,520,000. Welch Investments LLC now owns 54,448 shares of the utilities provider's stock worth $4,625,000 after acquiring an additional 641 shares in the last quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider's stock worth $232,610,000 after acquiring an additional 582,457 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Consolidated Edison by 1,929.5% during the fourth quarter. Institutional investors and hedge funds own 56.79% of the company's stock. Braun Stacey Associates Inc who had been investing in Consolidated Edison Inc for a number of months, seems to be less bullish one the $23.54 billion market cap company. (NYSE:ED) on Wednesday, October 18 with "Hold" rating. To see the ratio analysis, the debt to equity ratio appeared as 1.08 for seeing its liquidity position.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.64 billion.

For the current Fiscal Quarter, 5 analysts on average are expecting earnings of $0.78 per share.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.715 per share. The ex-dividend date is Tuesday, February 13th. Narrow down focus to firm performance, its weekly performance was -2.03% and monthly performance was -3.90%. This is a positive change from Consolidated Edison's previous quarterly dividend of $0.69. Consolidated Edison's dividend payout ratio is presently 13.03%. (:CVNA) is -0.24. This EPS estimate consists of 7 Wall Street analysts taken into consideration by Zacks Research. Morgan Stanley dropped their price target on Consolidated Edison from $80.00 to $74.00 and set an "underweight" rating for the company in a research note on Tuesday, February 13th. KeyCorp restated a hold rating on shares of Consolidated Edison in a report on Friday, October 20th. They set an "underweight" rating and a $78.00 price target for the company. ValuEngine upgraded shares of Consolidated Edison from a "hold" rating to a "buy" rating in a research note on Friday, November 10th. JPMorgan Chase & Co. started coverage on Consolidated Edison in a report on Friday, January 12th. They set a "neutral" rating and a $80.00 price target for the company. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of "Hold" and an average target price of $81.32.

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TRADEMARK VIOLATION WARNING: "Toronto Dominion Bank Increases Position in Consolidated Edison, Inc". Horrell Capital Management Inc who had been investing in Verifone Holdings Inc for a number of months, seems to be less bullish one the $1.87B market cap 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). Vetr downgraded the shares of ED in report on Monday, August 10 to "Hold" rating.

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