Risk Paradigm Group Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Risk Paradigm Group reduced its stake in Consolidated Edison by 2.9% during the most recent quarter end. The investment management company now holds a total of 4,054 shares of Consolidated Edison which is valued at $302,509 after selling 121 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on May 11, 2016.Consolidated Edison makes up approximately 0.39% of Risk Paradigm Group’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in ED in the latest quarter, The investment management firm added 2,786 additional shares and now holds a total of 10,479 shares of Consolidated Edison which is valued at $781,943. Consolidated Edison makes up approx 0.08% of Amalgamated Bank’s portfolio.Utah Retirement Systems boosted its stake in ED in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 52,520 shares of Consolidated Edison which is valued at $3.9 Million. Consolidated Edison makes up approx 0.11% of Utah Retirement Systems’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in ED by selling 35,000 shares or 35.0% in the most recent quarter. The Hedge Fund company now holds 65,000 shares of ED which is valued at $4.8 Million. Consolidated Edison makes up approx 0.02% of State Of New Jersey Common Pension Fund D’s portfolio.

Consolidated Edison opened for trading at $73.77 and hit $74.02 on the upside on Monday, eventually ending the session at $74.01, with a gain of 0.08% or 0.06 points. The heightened volatility saw the trading volume jump to 18,87,826 shares. Company has a market cap of $21,759 M.

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 .Company shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

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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