St. Johns Investment Management Company Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : St. Johns Investment Management Company reduced its stake in Consolidated Edison by 0.09% during the most recent quarter end. The investment management company now holds a total of 11,690 shares of Consolidated Edison which is valued at $922,458 after selling 10 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Consolidated Edison makes up approximately 0.81% of St. Johns Investment Management Company’s portfolio.

Other Hedge Funds, Including , Palladium Partners reduced its stake in ED by selling 630 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 31,673 shares of ED which is valued at $2,499,316. Consolidated Edison makes up approx 0.22% of Palladium Partners’s portfolio. Pacwest Financial Management Inc added ED to its portfolio by purchasing 2,493 company shares during the most recent quarter which is valued at $197,994. Consolidated Edison makes up approx 0.12% of Pacwest Financial Management Inc’s portfolio.Spirit Of America Management Corpny boosted its stake in ED in the latest quarter, The investment management firm added 680 additional shares and now holds a total of 8,690 shares of Consolidated Edison which is valued at $698,502. Consolidated Edison makes up approx 0.10% of Spirit Of America Management Corpny’s portfolio. Pensionfund Sabic sold out all of its stake in ED during the most recent quarter. The investment firm sold 21,000 shares of ED which is valued $1,715,070.

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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