Marshall Financial Group LLC Acquires 1,077 Shares of Consolidated Edison, Inc. (NYSE:ED)

Marshall Financial Group LLC grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,432 shares of the utilities provider’s stock after purchasing an additional 1,077 shares during the quarter. Marshall Financial Group LLC’s holdings in Consolidated Edison were worth $2,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Advisors Capital Management LLC raised its position in Consolidated Edison by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock valued at $283,000 after buying an additional 122 shares during the last quarter. Jeppson Wealth Management LLC raised its holdings in shares of Consolidated Edison by 1.6% in the fourth quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock valued at $702,000 after purchasing an additional 125 shares during the last quarter. Sandy Spring Bank lifted its position in shares of Consolidated Edison by 11.4% during the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 125 shares in the last quarter. Syon Capital LLC boosted its holdings in Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 136 shares during the last quarter. Finally, G&S Capital LLC boosted its holdings in Consolidated Edison by 1.6% during the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

NYSE:ED traded down $0.26 on Thursday, reaching $88.71. 922,354 shares of the company’s stock were exchanged, compared to its average volume of 1,524,099. The firm has a market cap of $30.68 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 2.26 and a beta of 0.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The stock has a fifty day simple moving average of $93.31 and a 200-day simple moving average of $91.07. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.89 by $0.26. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the firm earned $1.83 EPS. Consolidated Edison’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.74%. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ED shares. Barclays increased their price objective on shares of Consolidated Edison from $89.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Morgan Stanley decreased their target price on Consolidated Edison from $80.00 to $76.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Scotiabank reduced their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Finally, Mizuho lifted their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.27.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.