Excalibur Management Corp Buys 600 Shares of Consolidated Edison, Inc. (NYSE:ED)

Excalibur Management Corp boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 4.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 13,642 shares of the utilities provider’s stock after acquiring an additional 600 shares during the quarter. Excalibur Management Corp’s holdings in Consolidated Edison were worth $1,220,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Retirement Planning Co of New England Inc. lifted its position in Consolidated Edison by 4.2% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 2,501 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 100 shares in the last quarter. Syon Capital LLC lifted its position in Consolidated Edison by 2.3% in the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after acquiring an additional 136 shares in the last quarter. G&S Capital LLC lifted its position in Consolidated Edison by 1.6% in the 1st quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after acquiring an additional 139 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock valued at $503,000 after buying an additional 141 shares during the last quarter. Finally, Center For Asset Management LLC increased its stake in Consolidated Edison by 3.5% in the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock valued at $390,000 after buying an additional 147 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

NYSE ED opened at $104.85 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $36.26 billion, a P/E ratio of 20.12, a P/E/G ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The firm has a 50-day moving average price of $99.06 and a two-hundred day moving average price of $94.28.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the previous year, the firm posted $0.61 EPS. Analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank lifted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Mizuho boosted their price objective on shares of Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, Guggenheim boosted their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $92.65.

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.