Arvest Bank Trust Division adds Consolidated Edison (ED) to its portfolio

Consolidated Edison (ED) : Arvest Bank Trust Division added new position in Consolidated Edison during the most recent quarter end. The investment management firm now holds 2,934 shares of Consolidated Edison which is valued at $211,336 , the company said in a statement filed on Oct 7, 2016 with the SEC.Consolidated Edison makes up approximately 0.02% of Arvest Bank Trust Division’s portfolio.

Other Hedge Funds, Including , Sadoff Investment Management boosted its stake in ED in the latest quarter, The investment management firm added 950 additional shares and now holds a total of 134,326 shares of Consolidated Edison which is valued at $9,675,502. Consolidated Edison makes up approx 1.07% of Sadoff Investment Management’s portfolio.Hefty Wealth Partners reduced its stake in ED by selling 251 shares or 91.27% in the most recent quarter. The Hedge Fund company now holds 24 shares of ED which is valued at $1,740.Lynch Associatesin reduced its stake in ED by selling 700 shares or 6.77% in the most recent quarter. The Hedge Fund company now holds 9,640 shares of ED which is valued at $698,900. Consolidated Edison makes up approx 0.31% of Lynch Associatesin’s portfolio.

Consolidated Edison closed down -0.3 points or -0.41% at $72.03 with 20,96,558 shares getting traded on Friday. Post opening the session at $72.8, the shares hit an intraday low of $72.03 and an intraday high of $73.56 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Consolidated Edison reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.69.Analysts expectations of $ 2804.65.During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Consolidated Edison. Consolidated Edison was Upgraded by Jefferies to ” Buy” on Sep 14, 2016. Consolidated Edison was Initiated by Citigroup to “Neutral” on Aug 12, 2016. Company shares were Reiterated by Mizuho on Aug 8, 2016 to “Neutral”, Firm has raised the Price Target to $ 75 from a previous price target of $72 .

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 the Competitive Energy Businesses. CECONY delivers electricity natural gas and steam to customers in New York City and Westchester County. Orange and Rockland Utilities Inc. (O&R) delivers electricity and natural gas to customers located in south-eastern New York northern New Jersey and north-eastern Pennsylvania. O&R’s utility subsidiaries include Rockland Electric Company and Pike County Light & Power Company. Competitive energy businesses provide retail and wholesale electricity supply and energy services. The Competitive Energy Businesses include three subsidiaries: Consolidated Edison Solutions Inc. (Con Edison Solutions); Consolidated Edison Energy Inc. (Con Edison Energy) and Consolidated Edison Development Inc. (Con Edison Development).

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