Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 43.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,214 shares of the utilities provider’s stock after selling 2,500 shares during the period. Mission Wealth Management LP’s holdings in Consolidated Edison were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in Consolidated Edison in the 2nd quarter valued at about $44,000. Cibc World Markets Corp lifted its holdings in Consolidated Edison by 34.8% in the 2nd quarter. Cibc World Markets Corp now owns 32,785 shares of the utilities provider’s stock valued at $2,358,000 after purchasing an additional 8,455 shares in the last quarter. APG Asset Management N.V. lifted its holdings in Consolidated Edison by 5.5% in the 1st quarter. APG Asset Management N.V. now owns 3,423,511 shares of the utilities provider’s stock valued at $267,034,000 after purchasing an additional 177,852 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Consolidated Edison in the 1st quarter valued at about $14,906,000. Finally, Balentine LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth about $29,000. Institutional investors own 59.08% of the company’s stock.

ED stock opened at $81.70 on Friday. Consolidated Edison, Inc. has a twelve month low of $62.03 and a twelve month high of $95.10. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $27.33 billion, a P/E ratio of 20.48, a PEG ratio of 9.74 and a beta of 0.14. The firm has a 50 day simple moving average of $75.83 and a 200-day simple moving average of $75.80.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. Consolidated Edison had a net margin of 10.86% and a return on equity of 7.92%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $0.58 earnings per share. On average, research analysts predict that Consolidated Edison, Inc. will post 4.26 EPS for the current year.

ED has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Consolidated Edison from $78.00 to $73.50 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Guggenheim upgraded shares of Consolidated Edison from a “sell” rating to a “neutral” rating and set a $73.00 price objective on the stock in a report on Monday, September 14th. BofA Securities lowered shares of Consolidated Edison from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a report on Thursday. Credit Suisse Group upgraded shares of Consolidated Edison from an “underperform” rating to a “neutral” rating in a report on Monday, August 10th. Finally, Bank of America lowered shares of Consolidated Edison from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a report on Thursday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.57.

About Consolidated Edison

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 3.5 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 1,622 customers in parts of Manhattan.

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

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