Roble Belko & Company Inc Makes New $89,000 Investment in Consolidated Edison, Inc. (NYSE:ED)

Roble Belko & Company Inc purchased a new stake in Consolidated Edison, Inc. (NYSE:ED) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,000 shares of the utilities provider’s stock, valued at approximately $89,000.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter worth about $30,000. Future Financial Wealth Managment LLC acquired a new stake in Consolidated Edison during the third quarter worth about $55,000. FSA Wealth Management LLC bought a new position in Consolidated Edison in the 3rd quarter valued at about $55,000. Finally, Webster Bank N. A. raised its position in shares of Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock valued at $60,000 after buying an additional 379 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 1.0 %

Shares of NYSE ED opened at $90.22 on Thursday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm 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. The company has a 50 day simple moving average of $93.72 and a 200 day simple moving average of $97.90.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations 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 forecast that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ED. Barclays decreased 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 note on Friday, November 8th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Morgan Stanley reduced their price objective 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. UBS Group boosted their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price target for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.64.

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.