Roble Belko & Company Inc bought a new stake in Consolidated Edison, Inc. (NYSE:ED – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the utilities provider’s stock, valued at approximately $89,000.
Other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at $30,000. FSA Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter worth $55,000. Future Financial Wealth Managment LLC bought a new stake in Consolidated Edison in the third quarter valued at $55,000. Finally, Webster Bank N. A. raised its holdings in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 379 shares during the period. Institutional investors own 66.29% of the company’s stock.
Wall Street Analysts Forecast Growth
ED has been the subject of several research reports. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Barclays lowered their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $100.64.
Consolidated Edison Stock Up 1.0 %
Consolidated Edison stock opened at $90.22 on Thursday. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. 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’s 50-day simple moving average is $93.72 and its 200 day simple moving average is $97.90. The stock has a market cap of $31.25 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38.
Consolidated Edison (NYSE:ED – Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for 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%. Research analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.
Consolidated Edison Company 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.
Read More
- Five stocks we like better than Consolidated Edison
- Overbought Stocks Explained: Should You Trade Them?
- 4 Social Media Stocks Set to Gain as TikTok Ban Looms
- The Role Economic Reports Play in a Successful Investment Strategy
- How Do Stock Buybacks Affect Shareholders?
- What Are Growth Stocks and Investing in Them
- JPMorgan Chase & Co. Stock Can Hit $300 This Year
Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED – Free Report).
Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.