RMR Wealth Builders Purchases 287 Shares of Consolidated Edison, Inc. (NYSE:ED)

RMR Wealth Builders raised its position in Consolidated Edison, Inc. (NYSE:ED) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,576 shares of the utilities provider’s stock after buying an additional 287 shares during the quarter. RMR Wealth Builders’ holdings in Consolidated Edison were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $30,000. Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $55,000. FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $55,000. Finally, Webster Bank N. A. grew its position in Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after buying an additional 379 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays reduced their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $100.64.

Consolidated Edison Price Performance

ED opened at $88.19 on Friday. The stock has a 50-day moving average price of $94.15 and a 200-day moving average price of $97.80. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $30.55 billion, a P/E ratio of 16.61, a PEG ratio of 3.11 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Equities analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Consolidated Edison Company 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.