Marshall Financial Group LLC Has $2.41 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Marshall Financial Group LLC boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,995 shares of the utilities provider’s stock after acquiring an additional 230 shares during the period. Marshall Financial Group LLC’s holdings in Consolidated Edison were worth $2,409,000 as of its most recent filing with the Securities and Exchange Commission.

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

Consolidated Edison Price Performance

NYSE:ED opened at $90.66 on Friday. The stock has a market capitalization of $31.41 billion, a PE ratio of 17.07, a P/E/G ratio of 2.89 and a beta of 0.38. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The firm has a fifty day simple moving average of $92.88 and a 200 day simple moving average of $97.95. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

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

Consolidated Edison Increases Dividend

The business also recently announced 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 an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.75%. Consolidated Edison’s payout ratio is presently 62.52%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ED. Barclays cut their price objective 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. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. 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. Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and an average price target of $100.64.

Consolidated Edison 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.