Harfst Associates buys $474,846 stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Harfst Associates scooped up 400 additional shares in Consolidated Edison during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 6,403 shares of Consolidated Edison which is valued at $474,846.Consolidated Edison makes up approximately 0.30% of Harfst Associates’s portfolio.

Other Hedge Funds, Including , Gamble Jones Investment Counsel sold out all of its stake in ED during the most recent quarter. The investment firm sold 3,212 shares of ED which is valued $238,202. Wedgewood Investors Inc Pa added ED to its portfolio by purchasing 2,950 company shares during the most recent quarter which is valued at $220,070. Consolidated Edison makes up approx 0.22% of Wedgewood Investors Inc Pa’s portfolio.

Consolidated Edison closed down -0.54 points or -0.73% at $73.81 with 43,20,796 shares getting traded on Tuesday. Post opening the session at $73.26, the shares hit an intraday low of $73.16 and an intraday high of $74.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 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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