United Asset Strategies Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : United Asset Strategies reduced its stake in Consolidated Edison by 0.37% during the most recent quarter end. The investment management company now holds a total of 6,702 shares of Consolidated Edison which is valued at $528,788 after selling 25 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Consolidated Edison makes up approximately 0.19% of United Asset Strategies’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in ED by selling 2,394 shares or 3.25% in the most recent quarter. The Hedge Fund company now holds 71,339 shares of ED which is valued at $5,628,647. Consolidated Edison makes up approx 0.07% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Sabal Trust Co boosted its stake in ED in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 4,200 shares of Consolidated Edison which is valued at $336,336. Consolidated Edison makes up approx 0.04% of Sabal Trust Co’s portfolio.American Investment Services reduced its stake in ED by selling 1,534 shares or 9.64% in the most recent quarter. The Hedge Fund company now holds 14,371 shares of ED which is valued at $1,141,345. Consolidated Edison makes up approx 0.48% of American Investment Services’s portfolio.Chevy Chase Trust Holdings boosted its stake in ED in the latest quarter, The investment management firm added 12,106 additional shares and now holds a total of 262,859 shares of Consolidated Edison which is valued at $21,128,606. Consolidated Edison makes up approx 0.12% of Chevy Chase Trust Holdings’s portfolio.

Consolidated Edison closed down -0.11 points or -0.14% at $78.79 with 13,60,837 shares getting traded on Thursday. Post opening the session at $79.03, the shares hit an intraday low of $78.53 and an intraday high of $79.4 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. 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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