Armstrong Fleming & Moore Inc Buys New Holdings in Consolidated Edison, Inc. (NYSE:ED)

Armstrong Fleming & Moore Inc acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,089 shares of the utilities provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Planning Co of New England Inc. boosted its stake in Consolidated Edison by 4.2% in the second quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 100 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Consolidated Edison by 13.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 100 shares during the period. Brookstone Capital Management boosted its holdings in shares of Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock valued at $2,517,000 after acquiring an additional 136 shares during the period. G&S Capital LLC raised its holdings in shares of Consolidated Edison by 1.6% in the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after buying an additional 139 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Consolidated Edison by 2.6% during the second quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 141 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ED shares. Morgan Stanley increased their target price on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Guggenheim raised their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America raised their price target on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a report on Tuesday. Finally, Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $96.46.

Consolidated Edison Stock Down 0.5 %

NYSE ED traded down $0.55 during trading on Thursday, reaching $105.59. The company’s stock had a trading volume of 490,069 shares, compared to its average volume of 1,814,187. The stock has a market capitalization of $36.52 billion, a PE ratio of 20.31, a PEG ratio of 3.46 and a beta of 0.36. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $106.45. The business has a 50-day moving average price of $102.58 and a 200-day moving average price of $96.42. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, research analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

About Consolidated Edison

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.