Today: Today, Kings Point Capital Management Continues to Hold Stake in Consolidated Edison Inc. (ED)

Today, Kings Point Capital Management Continues to Hold Stake in Consolidated Edison Inc. (ED)

Kings Point Capital Management maintained its position in Consolidated Edison Inc. (NYSE:ED) during the third quarter, Holdings Channel reports. The institutional investor owned 2,542 shares of the company’s stock at the end of the third quarter. Kings Point Capital Management’s holdings in Consolidated Edison were worth $191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ED. Nuveen Asset Management LLC raised its position in Consolidated Edison by 25.1% in the first quarter. Nuveen Asset Management LLC now owns 31,973 shares of the company’s stock worth $2,450,000 after buying an additional 6,416 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Consolidated Edison by 275.2% in the first quarter. Envestnet Asset Management Inc. now owns 30,602 shares of the company’s stock worth $2,345,000 after buying an additional 22,445 shares during the last quarter. Royal Bank of Canada raised its position in Consolidated Edison by 45.6% in the first quarter. Royal Bank of Canada now owns 761,325 shares of the company’s stock worth $58,333,000 after buying an additional 238,503 shares during the last quarter. Squarepoint Ops LLC bought a new position in Consolidated Edison during the first quarter worth about $582,000. Finally, Euclid Advisors LLC raised its position in Consolidated Edison by 589.1% in the first quarter. Euclid Advisors LLC now owns 69,116 shares of the company’s stock worth $5,296,000 after buying an additional 59,086 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors.

Shares of Consolidated Edison Inc. (NYSE:ED) traded up 1.58% during mid-day trading on Friday, hitting $70.65. The stock had a trading volume of 228,630 shares. The firm has a market cap of $21.53 billion and a P/E ratio of 17.41. Consolidated Edison Inc. has a 12-month low of $60.30 and a 12-month high of $81.88. The company has a 50 day moving average price of $72.41 and a 200 day moving average price of $75.63.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 16th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.85%. The ex-dividend date is Monday, November 14th. Consolidated Edison’s dividend payout ratio is currently 66.34%.

ED has been the topic of a number of analyst reports. Citigroup Inc. decreased their price target on Consolidated Edison from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Morgan Stanley set a $69.00 price target on Consolidated Edison and gave the company a “sell” rating in a research note on Wednesday, September 21st. Vetr upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Monday, October 31st. Zacks Investment Research downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, Jefferies Group restated a “hold” rating on shares of Consolidated Edison in a research note on Monday, August 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Consolidated Edison has an average rating of “Hold” and an average target price of $74.36.

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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

Related posts

Leave a Comment