Gideon Capital Advisors Inc. Trims Position in Consolidated Edison, Inc. (ED)

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Gideon Capital Advisors Inc. trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 76.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,503 shares of the utilities provider’s stock after selling 17,547 shares during the period. Gideon Capital Advisors Inc.’s holdings in Consolidated Edison were worth $429,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wills Financial Group Inc. boosted its holdings in Consolidated Edison by 13.8% during the first quarter. Wills Financial Group Inc. now owns 9,620 shares of the utilities provider’s stock worth $749,000 after buying an additional 1,170 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Consolidated Edison by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 360,396 shares of the utilities provider’s stock worth $28,104,000 after buying an additional 9,220 shares in the last quarter. Kovack Advisors Inc. boosted its holdings in Consolidated Edison by 50.9% during the second quarter. Kovack Advisors Inc. now owns 3,979 shares of the utilities provider’s stock worth $310,000 after buying an additional 1,343 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in Consolidated Edison by 1.6% during the second quarter. LS Investment Advisors LLC now owns 66,421 shares of the utilities provider’s stock worth $5,180,000 after buying an additional 1,020 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. acquired a new position in Consolidated Edison in the 2nd quarter worth approximately $277,000. Hedge funds and other institutional investors own 57.20% of the company’s stock.

A number of research firms recently commented on ED. Scotiabank began coverage on shares of Consolidated Edison in a research note on Tuesday, July 24th. They issued a “sell” rating and a $32.00 price objective for the company. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Barclays began coverage on shares of Consolidated Edison in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $81.00 price objective for the company. ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Morgan Stanley raised their price objective on shares of Consolidated Edison from $71.00 to $77.00 and gave the stock an “underweight” rating in a research note on Monday, July 16th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Consolidated Edison presently has an average rating of “Hold” and an average target price of $77.45.

Consolidated Edison stock opened at $81.17 on Friday. Consolidated Edison, Inc. has a 52 week low of $71.12 and a 52 week high of $89.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.63 and a quick ratio of 0.57. The company has a market capitalization of $24.47 billion, a P/E ratio of 19.85, a PEG ratio of 6.14 and a beta of 0.06.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.64 billion. Consolidated Edison had a net margin of 12.90% and a return on equity of 8.52%. During the same quarter last year, the business posted $0.58 EPS. equities analysts forecast that Consolidated Edison, Inc. will post 4.27 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Wednesday, August 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.93%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,600 customers in parts of Manhattan.

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

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