Wealth Enhancement Advisory Services LLC raised its stake in Consolidated Edison Inc. (NYSE:ED) by 12.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,217 shares of the company’s stock after buying an additional 2,694 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Consolidated Edison were worth $2,028,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Baker Ellis Asset Management LLC purchased a new position in Consolidated Edison during the second quarter worth about $105,000. Stuart Chaussee & Associates Inc. boosted its position in Consolidated Edison by 27.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 1,750 shares of the company’s stock worth $141,000 after buying an additional 375 shares during the last quarter. Williams Jones & Associates LLC purchased a new position in Consolidated Edison during the first quarter worth about $146,000. Invictus RG purchased a new position in Consolidated Edison during the first quarter worth about $157,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Consolidated Edison by 65.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,329 shares of the company’s stock worth $187,000 after buying an additional 920 shares during the last quarter. Institutional investors and hedge funds own 54.73% of the company’s stock.
Shares of Consolidated Edison Inc. (NYSE:ED) traded up 0.84% on Monday, hitting $73.10. The stock had a trading volume of 407,070 shares. The company has a market cap of $22.25 billion, a P/E ratio of 18.94 and a beta of 0.01. Consolidated Edison Inc. has a 52-week low of $60.30 and a 52-week high of $81.88. The company has a 50-day moving average of $74.92 and a 200-day moving average of $76.14.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same period in the previous year, the business posted $0.78 EPS. On average, equities analysts anticipate that Consolidated Edison Inc. will post $3.97 EPS for the current fiscal year.
A number of research firms have recently issued reports on ED. Evercore ISI cut Consolidated Edison from a “hold” rating to a “sell” rating and upped their price objective for the stock from $69.50 to $72.50 in a report on Wednesday, July 6th. Vetr upgraded Consolidated Edison from a “strong sell” rating to a “sell” rating and set a $70.50 price objective for the company in a report on Tuesday, July 12th. Jefferies Group reiterated a “hold” rating on shares of Consolidated Edison in a report on Monday, August 1st. Citigroup Inc. began coverage on Consolidated Edison in a report on Friday, August 12th. They issued a “neutral” rating and a $76.00 price objective for the company. They noted that the move was a valuation call. Finally, Mizuho upped their price objective on Consolidated Edison from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $74.47.
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).