Roman Butler Fullerton & Co. Invests $245,000 in Consolidated Edison, Inc. (NYSE:ED)

Roman Butler Fullerton & Co. purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,727 shares of the utilities provider’s stock, valued at approximately $245,000.

Several other institutional investors also recently modified their holdings of ED. Marino Stram & Associates LLC grew its holdings in Consolidated Edison by 0.6% during the first quarter. Marino Stram & Associates LLC now owns 19,623 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 108 shares during the period. Sandy Spring Bank grew its holdings in Consolidated Edison by 11.4% during the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 125 shares during the period. Syon Capital LLC grew its holdings in Consolidated Edison by 2.3% during the fourth quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after purchasing an additional 136 shares during the period. G&S Capital LLC grew its holdings in Consolidated Edison by 1.6% during the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after purchasing an additional 139 shares during the period. Finally, Pinnacle West Asset Management Inc. grew its holdings in Consolidated Edison by 5.1% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded down $0.34 on Tuesday, hitting $101.60. The company had a trading volume of 1,505,340 shares, compared to its average volume of 1,885,258. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $105.99. The stock has a market cap of $35.14 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.56 and a beta of 0.34. The stock has a 50 day moving average price of $93.28 and a 200 day moving average price of $91.94. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company posted $0.61 earnings per share. Analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a yield of 3.27%. Consolidated Edison’s dividend payout ratio is 63.72%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ED shares. 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. Mizuho lifted their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Scotiabank cut their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research note on Monday, April 22nd. Finally, Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $91.81.

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.