Fiduciary Financial Group LLC Has $272,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

Fiduciary Financial Group LLC decreased its stake in Consolidated Edison, Inc. (NYSE:ED) by 33.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,085 shares of the utilities provider’s stock after selling 1,568 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Consolidated Edison were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison in the third quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the third quarter worth about $30,000. FSA Wealth Management LLC bought a new stake in shares of Consolidated Edison in the third quarter worth about $55,000. Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison in the third quarter worth about $55,000. Finally, Webster Bank N. A. increased its holdings in shares of Consolidated Edison by 189.5% in the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley lowered their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price target for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Citigroup upgraded 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, October 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $100.64.

Consolidated Edison Stock Up 1.0 %

ED stock opened at $90.22 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average price of $93.72 and a two-hundred day moving average price of $97.90. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75.

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