Regentatlantic Capital Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Regentatlantic Capital reduced its stake in Consolidated Edison by 1.27% during the most recent quarter end. The investment management company now holds a total of 131,566 shares of Consolidated Edison which is valued at $10,381,873 after selling 1,691 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Consolidated Edison makes up approximately 0.97% of Regentatlantic Capital’s portfolio.

Other Hedge Funds, Including , Cribstone Capital Management added ED to its portfolio by purchasing 1,170 company shares during the most recent quarter which is valued at $92,325. Consolidated Edison makes up approx 0.06% of Cribstone Capital Management’s portfolio. Bank Of Stockton sold out all of its stake in ED during the most recent quarter. The investment firm sold 6,743 shares of ED which is valued $542,002.Laurel Wealth Advisors reduced its stake in ED by selling 775 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 58,129 shares of ED which is valued at $4,672,409. Consolidated Edison makes up approx 2.28% of Laurel Wealth Advisors’s portfolio.

Consolidated Edison closed down -0.2 points or -0.25% at $78.91 with 15,76,185 shares getting traded on Wednesday. Post opening the session at $79.11, the shares hit an intraday low of $78.47 and an intraday high of $79.27 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Consolidated Edison reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.54. The company had revenue of $2707.00 million for the quarter, compared to analysts expectations of $2833.85 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Consolidated Edison. Company shares were Reiterated by Mizuho on May 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 72 from a previous price target of $66 .

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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