Coastal Investment Advisors Inc. buys 1,067 shares of Consolidated Edison, Inc. (NYSE: ED)


Coastal Investment Advisors Inc. increased its stake in Consolidated Edison, Inc. (NYSE: ED – Get Rating) by 27.1% in the first quarter, according to the company in its latest release to the SEC. The institutional investor owns 5,009 shares of the utility provider’s shares after purchasing an additional 1,067 shares during the period. The holdings of Coastal Investment Advisors Inc. at Consolidated Edison were worth $ 474,000 at the time of his last SEC filing.

Several other hedge funds and other institutional investors have also added or reduced their stakes in ED. Toroso Investments LLC bought a new position in shares of Consolidated Edison in the third quarter worth approximately $ 242,000. Cetera Advisor Networks LLC increased its stake in Consolidated Edison shares by 33.4% in the third quarter. Cetera Advisor Networks LLC already owns 39,212 shares of the utility provider’s stock worth $ 2,846,000 after buying an additional 9,827 shares in the last quarter. Cetera Advisors LLC increased its stake in Consolidated Edison by 40.4% in the third quarter. Cetera Advisors LLC already owns 15,850 shares of the utility provider’s shares worth $ 1,151,000 after purchasing an additional 4,563 shares in the last quarter. Cetera Investment Advisers increased its stake in Consolidated Edison by 10.8% in the third quarter. Cetera Investment Advisers already owns 17,710 shares of the utility provider’s shares worth $ 1,286,000 after buying an additional 1,724 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Consolidated Edison by 19.3% in the third quarter. Captrust Financial Advisors already owns 25,583 shares of the utility provider’s stock worth $ 1,857,000 after buying an additional 4,140 shares in the last quarter. Hedge funds and other institutional investors own 65.73% of the company’s shares.

A number of research firms have recently commented on ED. Royal Bank of Canada raised its target price for Consolidated Edison shares from $ 88.00 to $ 89.00 and gave the company a “sector performance” rating in a research report Monday, March 28th. KeyCorp raised its target price for Consolidated Edison shares from $ 71.00 to $ 72.00 and gave the company a “underweight” rating in a research report Wednesday, April 20th. Credit Suisse Group began covering shares of Consolidated Edison in a research report on Monday, April 25th. They set a “neutral” rating and a target price of $ 100.00 for the company. Goldman Sachs Group raised its target price for Consolidated Edison shares from $ 65.00 to $ 83.00 and gave the company a sales rating in a research report on Thursday, March 31st. Finally, StockNews.com downgraded Consolidated Edison shares from a buy rating to a hold rating in a research report on Tuesday, May 3rd. Five research analysts rated the shares with a sell rating, six gave a hold rating and one issued a buy rating for the company. Based on data from MarketBeat.com, Consolidated Edison currently has an average Hold rating and a consensus target of $ 85.45.

Shares of Consolidated Edison opened at $ 92.93 on Friday. The company has a debt to equity ratio of 1.10, a current ratio of 1.01 and a fast ratio of 0.93. The company has a 50-day moving average price of $ 94.84 and a 200-day moving average price of $ 89.81. Consolidated Edison, Inc. has a one-year low of $ 71.17 and a one-year high of $ 101.12. The shares have a market capitalization of $ 32.93 billion, a PE ratio of 21.46, a price-earnings-growth ratio of 10.18 and a beta ratio of 0.22.

Consolidated Edison (NYSE: ED – Get Rating) last released its earnings results on Thursday, May 5th. The utility provider reported $ 1.47 earnings per share (EPS) for the quarter, with a consensus estimate of $ 1.51 ($ 0.04) missing. Consolidated Edison had a return on equity of 7.66% and a net profit of 10.88%. The business had revenue of $ 4.06 billion for the quarter, compared to analysts’ expectations of $ 3.71 billion. In the same period last year, the business earned $ 1.43 EPS. As a group, stock analysts expect Consolidated Edison, Inc. will report 4.49 EPS for the current year.

The company also recently announced a three-month dividend, which was paid on Wednesday (June 15th). Record investors on Wednesday, May 18, received a dividend of $ 0.79 per share. The date of the former dividend of this dividend was Tuesday, May 17. This represents a $ 3.16 annual dividend and a dividend yield of 3.40%. Consolidated Edison’s dividend payout ratio (DPR) is currently 72.98%.

About Consolidated Edison (Get a rating)

Consolidated Edison, Inc., through its subsidiaries, is involved in regulated electricity, gas and steam supply businesses in the United States. It offers electrical services to approximately 3.5 million customers in New York and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens and Westchester County; and targeting approximately 1,555 customers in parts of Manhattan.

Presented stories

Want to see what other hedge funds hold ED? Visit HoldingsChannel.com to receive the latest 13F orders and domestic deals for Consolidated Edison, Inc. (NYSE: ED – Get rating).

Institutional ownership by quarter for Consolidated Edison (NYSE: ED)



Receive news and reviews for Consolidated Edison Daily – Enter your email address below to receive a brief daily summary of the latest news and analyst ratings for Consolidated Edison and related companies with the FREE Daily Email Newsletter at MarketBeat.com.

Leave a Comment