Marshwinds Advisory Co Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Marshwinds Advisory Co reduced its stake in Consolidated Edison by 0.75% during the most recent quarter end. The investment management company now holds a total of 33,170 shares of Consolidated Edison which is valued at $2,419,420 after selling 250 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Consolidated Edison makes up approximately 1.21% of Marshwinds Advisory Co’s portfolio.

Other Hedge Funds, Including , Private Trust Co Na boosted its stake in ED in the latest quarter, The investment management firm added 81 additional shares and now holds a total of 5,011 shares of Consolidated Edison which is valued at $365,502. Consolidated Edison makes up approx 0.09% of Private Trust Co Na’s portfolio.Hexavest reduced its stake in ED by selling 56,186 shares or 9.87% in the most recent quarter. The Hedge Fund company now holds 513,133 shares of ED which is valued at $36,771,111. Consolidated Edison makes up approx 0.67% of Hexavest’s portfolio.Gofen Glossberg Il reduced its stake in ED by selling 88 shares or 0.87% in the most recent quarter. The Hedge Fund company now holds 9,981 shares of ED which is valued at $720,628. Consolidated Edison makes up approx 0.03% of Gofen Glossberg Il’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in ED by selling 1,004 shares or 1.28% in the most recent quarter. The Hedge Fund company now holds 77,728 shares of ED which is valued at $5,598,748. Consolidated Edison makes up approx 0.12% of Exxonmobil Investment Management Inc Tx’s portfolio.

Consolidated Edison closed down -0.54 points or -0.75% at $71.66 with 20,69,891 shares getting traded on Tuesday. Post opening the session at $71.91, the shares hit an intraday low of $71.345 and an intraday high of $72.33 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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