Symons Capital Management Inc buys $16,673,222 stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Symons Capital Management Inc scooped up 1,545 additional shares in Consolidated Edison during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 239,730 shares of Consolidated Edison which is valued at $16,673,222.Consolidated Edison makes up approximately 4.32% of Symons Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Risk Paradigm Group boosted its stake in ED in the latest quarter, The investment management firm added 197 additional shares and now holds a total of 4,403 shares of Consolidated Edison which is valued at $306,229. Consolidated Edison makes up approx 0.23% of Risk Paradigm Group’s portfolio.Liberty Mutual Group Asset Management reduced its stake in ED by selling 872 shares or 4.22% in the most recent quarter. The Hedge Fund company now holds 19,768 shares of ED which is valued at $1,397,400. Consolidated Edison makes up approx 0.05% of Liberty Mutual Group Asset Management’s portfolio.Blackrock Fund Advisors boosted its stake in ED in the latest quarter, The investment management firm added 334,665 additional shares and now holds a total of 8,718,296 shares of Consolidated Edison which is valued at $649,861,784. Consolidated Edison makes up approx 0.14% of Blackrock Fund Advisors’s portfolio.Wealth Architects reduced its stake in ED by selling 102 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 7,519 shares of ED which is valued at $560,466. Consolidated Edison makes up approx 0.27% of Wealth Architects’s portfolio.Stratos Wealth Partners Ltd. boosted its stake in ED in the latest quarter, The investment management firm added 1,349 additional shares and now holds a total of 10,297 shares of Consolidated Edison which is valued at $760,125. Consolidated Edison makes up approx 0.05% of Stratos Wealth Partners Ltd.’s portfolio.

Consolidated Edison closed down -0.51 points or -0.73% at $69.53 with 17,77,205 shares getting traded on Monday. Post opening the session at $69.99, the shares hit an intraday low of $69.26 and an intraday high of $70.33 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Consolidated Edison reported $1.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $1.47. The company had revenue of $3417.00 million for the quarter, compared to analysts expectations of $3227.12 million. The company’s revenue was down -.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on Consolidated Edison. Deutsche Bank Upgraded Consolidated Edison on Oct 24, 2016 to ” Hold”, Price Target of the shares are set at $74.Consolidated Edison was Upgraded by Jefferies to ” Buy” on Sep 14, 2016.

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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