Seminole Management adds Consolidated Edison (ED) to its portfolio

Consolidated Edison (ED) : Seminole Management added new position in Consolidated Edison during the most recent quarter end. The investment management firm now holds 9,600 shares of Consolidated Edison which is valued at $762,528 , the company said in a statement filed on Jul 26, 2016 with the SEC.Consolidated Edison makes up approximately 0.08% of Seminole Management’s portfolio.

Other Hedge Funds, Including , Calamos Advisors boosted its stake in ED in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 44,448 shares of Consolidated Edison which is valued at $3,530,505. Consolidated Edison makes up approx 0.03% of Calamos Advisors’s portfolio.Stoneridge Investment Partners reduced its stake in ED by selling 259 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 54,173 shares of ED which is valued at $4,302,961. Consolidated Edison makes up approx 0.61% of Stoneridge Investment Partners’s portfolio.First Quadrant L Pca reduced its stake in ED by selling 150,000 shares or 97.85% in the most recent quarter. The Hedge Fund company now holds 3,300 shares of ED which is valued at $260,403. Consolidated Edison makes up approx 0.01% of First Quadrant L Pca’s portfolio. Churchill Management Corp sold out all of its stake in ED during the most recent quarter. The investment firm sold 174,262 shares of ED which is valued $14,007,180.

Consolidated Edison opened for trading at $79.78 and hit $80.85 on the upside on Friday, eventually ending the session at $80.08, with a gain of 0.25% or 0.2 points. The heightened volatility saw the trading volume jump to 23,38,524 shares. Company has a market cap of $23,543 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 .

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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