Hamel Associates buys $5,382,755 stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Hamel Associates scooped up 1,500 additional shares in Consolidated Edison during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 72,583 shares of Consolidated Edison which is valued at $5,382,755.Consolidated Edison makes up approximately 2.85% of Hamel Associates’s portfolio.

Consolidated Edison closed down -1.42 points or -1.88% at $74.16 with 36,79,664 shares getting traded on Friday. Post opening the session at $75.42, the shares hit an intraday low of $72.86 and an intraday high of $75.43 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Dynamic Advisors Solutions reduced its stake in ED by selling 17,443 shares or 20.94% in the most recent quarter. The Hedge Fund company now holds 65,875 shares of ED which is valued at $4,885,290. Consolidated Edison makes up approx 2.08% of Dynamic Advisors Solutions’s portfolio.Wade G W Inc boosted its stake in ED in the latest quarter, The investment management firm added 6,642 additional shares and now holds a total of 82,312 shares of Consolidated Edison which is valued at $6,140,475. Consolidated Edison makes up approx 1.19% of Wade G W Inc’s portfolio.Wright Investors Service Inc boosted its stake in ED in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 3,564 shares of Consolidated Edison which is valued at $265,874. Consolidated Edison makes up approx 0.11% of Wright Investors Service Inc’s portfolio.

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 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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