RB Capital Management LLC Invests $308,000 in Consolidated Edison, Inc. (NYSE:ED)

RB Capital Management LLC acquired a new position in Consolidated Edison, Inc. (NYSE:ED) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,283 shares of the utilities provider’s stock, valued at approximately $308,000.

Other large investors have also added to or reduced their stakes in the company. FTB Advisors Inc. increased its stake in shares of Consolidated Edison by 220.2% in the second quarter. FTB Advisors Inc. now owns 285 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 196 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Consolidated Edison in the second quarter worth $25,000. Coastal Capital Group Inc. acquired a new stake in shares of Consolidated Edison in the second quarter worth $26,000. Interactive Financial Advisors acquired a new stake in shares of Consolidated Edison in the first quarter worth $34,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Consolidated Edison in the second quarter worth $36,000. Hedge funds and other institutional investors own 59.75% of the company’s stock.

Several analysts recently commented on the stock. Credit Suisse Group dropped their price target on shares of Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a research report on Thursday, August 8th. ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on shares of Consolidated Edison from $93.00 to $91.00 and set an “underweight” rating on the stock in a research report on Friday, August 16th. Finally, Barclays restated a “hold” rating and set a $90.00 price target on shares of Consolidated Edison in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $85.01.



ED stock traded down $0.30 during midday trading on Thursday, hitting $93.06. 14,725 shares of the stock traded hands, compared to its average volume of 1,536,311. The firm has a market cap of $31.18 billion, a P/E ratio of 21.57, a PEG ratio of 10.81 and a beta of 0.07. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.62 and a quick ratio of 0.56. The stock’s fifty day simple moving average is $91.03 and its 200-day simple moving average is $87.64. Consolidated Edison, Inc. has a 1-year low of $73.29 and a 1-year high of $94.97.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.02). Consolidated Edison had a net margin of 10.71% and a return on equity of 8.04%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business earned $0.61 EPS. On average, research analysts predict that Consolidated Edison, Inc. will post 4.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were given a $0.74 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $2.96 annualized dividend and a dividend yield of 3.18%. Consolidated Edison’s dividend payout ratio (DPR) is 68.52%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

Further Reading: Outperform Rating

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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