Marshall Financial Group LLC Purchases 1,141 Shares of Consolidated Edison, Inc. (NYSE:ED)

Marshall Financial Group LLC raised its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,573 shares of the utilities provider’s stock after acquiring an additional 1,141 shares during the period. Marshall Financial Group LLC’s holdings in Consolidated Edison were worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Marino Stram & Associates LLC grew its holdings in shares of Consolidated Edison by 0.6% in the first quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 108 shares during the last quarter. Syon Capital LLC grew its holdings in shares of Consolidated Edison by 2.3% in 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. G&S Capital LLC grew its holdings in Consolidated Edison by 1.6% during the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 139 shares in the last quarter. Pinnacle West Asset Management Inc. grew its holdings in Consolidated Edison by 5.1% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock worth $280,000 after acquiring an additional 148 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Consolidated Edison by 20.1% during the 1st quarter. Quent Capital LLC now owns 958 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 160 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on ED. Wells Fargo & Company increased their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Scotiabank decreased 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. Bank of America increased their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group increased their price objective on shares of Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $91.81.

Consolidated Edison Stock Performance

ED traded up $0.87 during trading on Friday, reaching $100.10. 1,684,765 shares of the company’s stock were exchanged, compared to its average volume of 1,887,954. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. 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 market capitalization of $34.62 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 2.56 and a beta of 0.34. The company’s fifty day simple moving average is $93.92 and its 200-day simple moving average is $92.21.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm posted $0.61 EPS. As a group, research analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.32%. Consolidated Edison’s payout ratio is 63.72%.

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.