Marshall Financial Group LLC Acquires 230 Shares of Consolidated Edison, Inc. (NYSE:ED)

Marshall Financial Group LLC raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,995 shares of the utilities provider’s stock after acquiring an additional 230 shares during the quarter. Marshall Financial Group LLC’s holdings in Consolidated Edison were worth $2,409,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison during the third quarter worth $30,000. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth $27,000. FSA Wealth Management LLC bought a new position in shares of Consolidated Edison in the 3rd quarter valued at $55,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at $55,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

NYSE:ED opened at $90.66 on Friday. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The stock has a fifty day moving average of $92.88 and a 200 day moving average of $97.95. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.89 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, research analysts expect that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analysts Forecast Growth

ED has been the subject of several research reports. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley lowered their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Barclays cut their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research report on Friday, November 8th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Finally, Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price target for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $100.64.

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.